One of the newest ways to market credits It is being materialized through ecological financing lines. This is the latest generation of credit lines that banks have decided to launch. They have very well defined purposes and are governed by marketing codes that have little to do with the so-called conventional credits. Of course it is a way of adapt to the new needs of users. And they range from the financial field to the demands that are required from the domestic home itself. In any case, it is a line of credit that you have available in banks for a short time. As a destination for some of your closest needs.
In any case, the offer promotes the change in the users' consumption model. Without missing the mortgage loans that are presented with a vocation to improve and boost eenergy efficiency of the houses. It is a line of financing that has nothing to do with that of the more conventional loans. Because what it is about is to buy an ecological car, reform the home under environmental sustainability criteria or even install a solar heater in your home. With a very clear objective and that is none other than saving energy from more efficient consumption approaches.
These are financial products that are characterized in that they are exempt from commissions and other expenses in their management or maintenance. Where one of the most striking novelties they present is the incorporation of a grace period so that the return is much more comfortable to defend your personal interests. Among other reasons because at the beginning you will pay less money in the monthly installments. Which is precisely the period where the economic effort that you will have to face will be most noticeable.
Ecological credits to contract
Of course, its purposes are much more limited than in other types of credits. Although one of the most innovative variants that you can detect in the current banking offer is the one represented by the so-called ecological microcredits. With small lines of credit that are marketed under contracting conditions that will be much more benevolent than in the other modalities. That is, with a more competitive interest rate and generally free of commissions and other expenses in its management.
One of these proposals can be found through Microbank, which has promoted Ecomicrédito under its own strategy. What is this special line of credit about? Well, it is an ecological and personal variant that is characterized because it is intended to finance the purchase of environmentally friendly products. Both with regard to household appliances classified with the energy label of class A or higher as well as ecological vehicles (cars, motorcycles, electric bicycles and commercial vehicles). Offers up to 25.000 euros that you can amortize in a maximum period of six years. Without the incorporation of any real guarantee.
Green credit lines
This is the method provided by the Basque entity Kutxabank and which markets it under the name of Green Loan. It can be used to buy an ecological vehicle, efficient appliances or reform the home for this strategy. Generate a credit line of up to 75.000 euros, with a repayment term of ten years. Conceived with a system of constant and fixed fees every month.
Of course, one of the contributions of this credit is that it has a very specific purpose that you can benefit from in your daily life. By means of an advance of between 3.000 and 60.000 euros, with a maximum duration of 10 years. However, in this case a Opening commission which is 1%. A factor that does not make it so advantageous with respect to the other financing. This is a factor that can undoubtedly harm your interests at the time of signing the contract. On the other hand, it presents slightly lower interests than those developed in other personal or consumer proposals.
Applied to mortgages
Although until a few years ago these special lines of credit were only limited to personal loans, this scenario has changed significantly. To the point that it has even ended up reaching mortgages, although under a series of very specific proposals and why not say it also certainly original. Where its purpose is based mainly on promote more responsible consumption from an ecological point of view. But also, allowing new households to save many euros with the application of new consumption habits.
This is the idea that the so-called Eco-mortgage that Triodos has been developing for several years. On the one hand, reducing carbon dioxide (CO2), one of the factors that generate the greatest environmental impact and which is responsible for the climate change that is taking place on the planet. On the other hand, if you contract it, you are in a position to improve the contracting conditions of a good part of the more or less conventional mortgages that are available in the national banking market. Among other reasons, because they present an interest rate that develops from Euribor + 1,00%, with a variable margin of 1,86%.
This very special mortgage, on the other hand, is made so that the amount and their respective interests can be returned in a maximum term of 30 years. In addition, its appearance on the market means that the operation can be carried out for an amount of up to 80% of the appraised value of the property that is the object of the financing. In any case, you cannot forget that the improvements to the general contracting conditions will depend fundamentally on the energy certification that your home presents at the time of acquisition. Where not in all cases it will be the same situation, as is logical to understand from these approaches.
Benefits of ecological credits
Of course, this innovative source of financing does not always require your special demand. Rather, its use is limited to very specific needs that you have in your life. Where, one of its main contributions lies in the fact that you will be governing your actions by your own ethical and maybe even social approaches. It is the main difference with respect to the other lines of credit that banks offer you. Not in vain, you will be helping reduce carbon dioxide (CO2) and which is one of the most relevant factors that generate the greatest environmental impact. Which is why you can lean towards these atypical financial products. At least for a few years where its commercialization was very unusual.
But of course that is not the only benefit that you can get from now on. Because indeed, if there is something that especially characterizes the so-called ecological or green mortgages, it is that the new owners are in perfect disposition to optimize energy efficiency of their homes. Not surprisingly, this continues to be one of the objectives of a good part of users at the moment. Not by fashions, but their decision is based on achieving a higher quality of life in this class of homes. While it will be helping to improve the quality of the environment. More than enough reasons to opt for this particular choice.
Disadvantages of this financing
On the contrary, ecological credits carry a series of disadvantages that you should take into account to assess whether it is convenient for you to opt for this economic operation. To the point that you may be tempted not to hire them from now on. As in the following scenarios that we are going to expose below.
- Moment the offer is not majority, if not, on the contrary, they are limited to very specific demands. And of course they are not developed by all banking entities. Only a few accounts include these financial products in their offers.
- Improvements in the contracting conditions they are not particularly flashy. If not, on the contrary, its appeal lies in another series of more special features.
- If what you want is to take advantage of these offers to prop up your home from ecological approaches Yes, it can be a very satisfactory solution for a demand as specific as this.
- With regard to commissions and other expenses in management or maintenance, you can find some that improve with respect to the more conventional lines of credit. Not in vain usually be exempt from these disbursements.
- If what you want is a personal credit of these characteristics, you would be better off forgetting about this offer since these formats have not yet been formalized. But they are intended for other needs of bank users.
- And lastly, you can't forget that this it is a financial product on the rise. Where each time new models of these characteristics will appear. Beyond other technical considerations.