Are you planning to buy a new home or invest in upgrading your current one? Have you considered how your choices could impact the environment and your finances? At APS Bank, we believe in encouraging sustainability and making it accessible for everyone. That's why we are proud to offer the APS Green Home Loan - a home loan that rewards environmentally conscious decisions and helps you save money in the process.
In this article, we will provide a detailed explanation of this product, discuss the benefits of opting for it and provide the eligibility criteria. So, let's dive in and explore how you can go green and save money with APS Bank.
A green home loan is a type of home loan that incentivises energy efficiency and sustainability. It offers discounted interest rates for homes that meet specific environmental standards, such as having a low Energy Performance Certificate (EPC) rating. EPC ratings measure a home's energy efficiency and carbon emissions, so the lower the score, the more sustainable and energy-efficient the home is considered to be.
Opting for an APS Green Home Loan comes with many benefits that go beyond just saving you money. By choosing to invest in a home that is energy efficient, you are also making a positive impact on the environment. Here are some of the top benefits of opting for it:
- Discounted fixed interest rate: with a fixed interest rate of just 1.00% for the first 5 years of the loan, you can save a significant amount of money in interest payments over both the short and long term.
- Better energy performance: by investing in an energy-efficient home, you will save on energy bills and contribute towards a more sustainable future.
- Loan flexibility: with the APS Green Home Loan, you have the option to switch from an existing home loan with us and benefit from the discounted interest rate, before switching to a variable interest rate for the remainder of the loan’s repayment period.
- Hassle-free eligibility: all you need to do is provide a valid and low-scoring EPC rating to be eligible for the APS Green Home Loan. The lower your EPC score, the more likely you are to be eligible for this home loan.
- Increased property value: a green home is an investment that pays off in the long run. Energy-efficient homes are in high demand and are likely to have a higher resale value than less-efficient homes.
- Lower utility bills: green buildings are designed to be energy-efficient, meaning that you'll save money on your utility bills. This could amount to significant savings over time.
- Environmental impact: by investing in a green home, you are reducing your carbon footprint and contributing to a more sustainable future. This can give you a sense of pride and satisfaction in knowing that you are doing your part to help the environment.
- Improved health and well-being: green homes are designed to provide a healthy and comfortable living environment. This means that you'll have better indoor air quality, more natural light, and a space that promotes well-being.
Overall, opting for an APS Green Home Loan is a smart choice that not only benefits you financially but also contributes towards a more sustainable future.
To be eligible for the APS Green Home Loan, you must provide a valid and low scoring EPC rating. EPCs in Malta follow two scales, one tracking the Energy Use of the property, and the other tracking its CO2 Emissions. To be eligible for the APS Green Home Loan an EPC will need an Energy Use score of 55 or lower, and a CO2 Emissions score of 12 or lower. You can also switch to the APS Green Home Loan within the first 5 years of an existing home loan with us if you have an eligible EPC. Additionally, if your home has a low-scoring EPC rating and you have an existing home loan with another bank, you can still shift your home loan to APS and benefit from the discounted rate.
To get started or for more information about the APS Green Home Loan, contact us by filling in the form below. Our team will give you the guidance you need to go green and save money with our financial products.
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Approved and issued by APS Bank plc, APS Centre, Tower Street, B’Kara BKR 4012. APS Bank plc is regulated by the Malta Financial Services Authority as a Credit Institution under the Banking Act 1994. Applications are subject to the Bank’s lending criteria. Terms and conditions apply and are available on request.