20 May 2018.
GEFF promotes energy-efficient home mortgage from Banca Transilvania and UniCredit Bank
One of the technical eligibility criteria GEFF in Romania is that Participating Financial Institutions may use GEFF financing for home mortgages for apartments and houses with an Energy Performance Certificate (EPC) in category ‘A’ or the upper half of ‘B’ (meaning maximum 163 kWh/m2/year).
As both Banca Transilvania and UniCredit Bank have set up ‘green mortgage’ products, the GEFF team has been marketing the facility at two major spring housing fairs in Bucharest, Imobiliarium and Targul National Imobiliar (TNI).
84 developments were showcased at Imobiliarium, with one-bedroom apartments (two rooms) costing €35,200 to €110,000 and 3-bedroom apartments from €53,500 to €200.000. 126 developers and agents at TNI had 20,000 homes on offer.
The impact of investing in energy efficient homes can be substantial:
Using the EPC to determine technical eligibility to be financed using the GEFF is a practical, low-cost and effective approach because it relies on an existing national system. Every home is required under Romanian law to have an EPC when it is bought/sold, so there are no additional costs above ‘business-as-usual’ for the buyer or seller.
From an incentive point of view, financing only energy-efficient new homes brings:
Household customers who would like to buy an energy-efficient home may apply for a GEFF mortgage Banca Transilvania or UniCredit Bank.