Step 2: Choose how the work will be financed
Do you have sufficient savings? Then you can of course use your own money. Investing in energy-saving measures is often an investment that yields returns in the form of lower energy costs. This may yield more than if you leave the money in a savings account.
Make sure that you always have a financial buffer available for unexpected expenses.
Is there no (sufficient) savings available, or would you rather keep it aside as a buffer or for other expenses? Then taking out a loan, or increasing the mortgage might be a good option.
Fortunately, municipalities, the central government and some mortgage providers consider it important that homeowners experience as few financial barriers as possible if they want to make their homes more sustainable. Therefore, there are several options available to take out a loan for this. In some cases, there is no handling fee applicable.
Examples of these loans are the Energy Saving Loan (energiebespaarlening). And there are many municipal schemes, the best known of which is the Sustainability Loan.
Municipalities can offer a wide range of other schemes. At the ‘Stimuleringsfonds Volkshuisvesting’ (SVn) you can see per municipality which local schemes exist for making the home more sustainable.
It is also possible to increase the mortgage to finance the sustainability measures. Ask your Viisi advisor what is possible within your mortgage. Don’t have a Viisi advisor yet? Then schedule a telephone consultation here.
If you make the home more sustainable, the maximum mortgage may be higher than it normally is. These are the main deviations:
Based on the home value
Financing up to 106% of the market value after renovation is possible instead of 100%. The ‘extra’ 6% must then be fully used for sustainability measures.
Based on the energy label of the property
Households that purchase an energy-efficient home from January 1st 2024 can obtain additional mortgage for this. Owners of energy-efficient homes have a significantly lower energy bill, which means they have more left over for the mortgage and other expenses. The borrowing capacity for buyers of a home with an energy label E, F or G is decreasing. The table below shows what extra homeowners of energy-efficient homes can borrow.
Borrow extra for sustainability
Households can also borrow an additional amount to make their home more energy efficient, as shown in the table above. There is a list of measures that almost always reduce the energy bill more than the monthly mortgage costs increase. This amount previously did not exceed € 9,000. This amount is now also differentiated according to energy label. Because more measures are required for EFG homes, buyers of these homes can borrow a higher additional amount than buyers of homes that are already more energy efficient. For EFG homes this will increase to €20,000 in 2024.
The precise implementation of these options depends on the lender. Most providers simply allow all of the above deviations, but this is not always the case. Good examples of lenders who offer options to increase the mortgage for sustainability can be found at:
- Triodos: with the Energy Saving Loan and interest rates that depend on the energy label
- ABN AMRO: offers a 0,15% discount on the Budget Mortgage and the Home Mortgage for energy-efficient homes
- ASR: offers a separate Sustainability Mortgage
- Florius: offers a comparable Sustainable Mortgage
- Vista: with an interest discount of 0.1% for homes with an A label
- Obvion: 0.05% discount for homes with an A label or higher
- Woonnu: offers the Duurzaam Voordeel Hypotheek which helps you to increase the energy label to A for a guaranteed amount