Netherlands based ABN AMRO Is Co-founder of New Green Mortgage Initiative

ABN AMRO (AMS: ABN) confirmed that it’s the co-founder of the new Energy Efficient Mortgages NL Hub (EEM NL Hub).

Charissa Cardon will reportedly represent the banking institution on the EEM NL Hub’s board.

As mentioned in the announcement, the EEM NL Hub was “initiated by organizations in the Dutch housing and mortgage market including mortgage providers, investors, service providers and others.”

Its goal is to provide “a clear definition of ‘green mortgages’ for the Dutch housing and mortgage market in line with European rules and regulations introduced recently.” The financial institutions involved “want the initiative to contribute to a greener housing stock in the Netherlands.”

Charissa stated:

“Sustainability is a key element of our strategy. As a major player in the mortgage market, we can make a meaningful contribution to a more sustainable built environment. By joining forces with other organizations in the EEM NL Hub, we are helping to create a clear definition for the Dutch market of what constitutes a green mortgage. And that’s important – it ensures clarity and transparency for providers, clients and investors.”

(Note: For addition information on this update, you can check here.)

As covered, ABN Amro, a Dutch bank with headquarters in Amsterdam and currently the third-largest bank in the Netherlands, will be offering clients a sustainability discount on mortgage interest rates for energy-efficient homes.

ABN Amro‘s management noted in August 2021 that they will be using the EU’s Energy Label categorization in order to evaluate sustainability scores for houses. For properties that are registered in the upper A category, the banking institution will offer a 0.15% discount on interest repayments (as reported by Finextra). Houses that are officially registered as B properties will be eligible for a 0.1% discount.

ANB Amro’s management stated in August 2021:

“We aim to attain an average energy label A for all residential and commercial properties we finance by 2030. We want to encourage our clients to make their homes more sustainable, so we’re offering this sustainability discount as an incentive.”

Current and new mortgage customers will qualify for the rate reduction if they make their properties more sustainable after the beginning of a fixed-interest period and also if they register their energy label – assuming it is A or B – within a 2-year period.

ABN Amro confirmed that it automatically obtains the energy labels proactively from the Rijksdienst Voor Ondernemend Nederland (Netherlands Enterprise Agency). If the conditions have been satisfied, the banking institution applies the discount without requiring the customer to apply for it.

ABN Amro points out that there’s “a lot to consider when buying a home in the Netherlands and it can be a bit overwhelming.” And if you’re not sure exactly where to begin, then you can follow their step-by-step guide, from calculating or determining how much you are able to borrow till actually receiving your mortgage offer.

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