Research has shown that environmental degradation and poor living standards go hand in hand. When it comes to protecting the environment; everyone should chip in to make the world more livable and improve the quality of life as we know it. All these reasons have led to what is now called environmental or “green” mortgage”, it basically means that potential home owners or those seeking mortgages get higher amounts at lower interest rates if they are planning to make their homes more energy efficient. How about that? By making your home more energy efficient, you reduce your heating and cooling costs, protect the environment by having a smaller carbon footprint and thus you deserve to borrow more on your home. Ask your broker if they offer green mortgages, going green is protecting ourselves and securing the future for those who come after us.
So how can you as a home owner upgrade your home and save lots of money in the process while reducing the carbon footprint? Here are a few options.
* proper insulation, on average, about 60% of electricity expenses comes from heating and cooling the house, proper insulation means the house doesn’t heat up from external heat and when its cold, heat is not lost.
* double paned windows reduce heating and cooling costs by up to 20%.
* changing your dishwasher to an energy star rated one that uses less water and electricity.
* using compost on the kitchen garden or lawn instead of products bought from the stores.
* recycling the cans and bottles used in the house, throwing them in the trash means they get taken to landfills which degrade the environment even further. Kitchen waste can be used in composting.
When contacted for a comment, Tom Porter of Mortgage Hero Perth explained- “Getting a green or energy efficient mortgage (EEM) is one of the best ways you can play your part in protecting the environment. Anyone who qualifies for a regular mortgage automatically qualifies for an EEM too.”
To get one, you need to check the improvements needed in your home first, get an official inspection from the mortgage firm and you are good to go. It isn’t just home owners who qualify; businesses too can apply and get funding that will help them improve their systems to consume less energy. Human activity affects the environment in many ways leading to lower standards of living, a health crisis or making a place completely inhabitable. More and more home financing firms are seeing the need to help in environmental protection and that is why green mortgages is picking up fast.
Have you ever wondered why everyone wants to park their car under a tree for the shade yet no one wants to plant a tree? We want the benefits of a good environment, yet want to play no part in preserving and improving it. Now that you know what a green mortgage is, you can play your small part in controlling your home budget and your impact on the environment. Greening your surroundings means less energy costs, cleaner air, uncontaminated water and a better tomorrow for your offspring. Although there are some complexities that will have to be explained to you by your mortgage broker; the benefits of getting an energy efficient mortgage far outweigh the extra paperwork and terms of the agreement.
If you’d like to learn more about Green Mortgages you can contact Tom at:
5/17 Pearson Way
Osborne Park WA 6017
(08) 6316 0408