Banca March announces a bonus of up to an additional 0.30% on mortgages for homes that achieve the highest sustainability rating.
By evaluating a broader set of indicators than the Energy Efficiency Certificate (CEE), which focuses solely on energy consumption, it is possible that certain homes with a 'C' rating under this certificate—which are typically not eligible for discounts in the sector—could receive a 0.10% discount.
As Sonia Colino, Director of the People, Brand and Sustainability unit at Banca March, points out, "the launch and application of this report represent a further step in our innovation strategy linked to sustainability."
In the variable period, from the eleventh year onwards, the interest rate will be set between Euribor + 0.60% and Euribor + 1.30%, depending on the fulfillment of the following conditions: a 0.30% bonus for taking out life insurance, a 0.20% bonus for salary direct deposit, and a 0.20% bonus for contracting home insurance.
Banca March is strengthening its digital offering for 2025 and launching a fixed-rate mortgage at 2.30%. The bank has also updated the terms of its mixed and variable mortgages, which can only be contracted through its Avantio digital platform. This new report allows a larger number of customers to benefit from these conditions.
Those who score between 7 and 8.99 points will receive a 0.20% reduction, and those scoring between 5 and 6.99 points will receive a 0.10% reduction.
Initially, this sustainability discount applies to Banca March's 10-year mixed mortgages: Mixed Mortgage and Mixed Mortgage Avantio, although it is planned to extend it to the bank's entire residential mortgage offering in the coming months.
In this way, customers who contract the Mixed Mortgage Avantio through Avantio, the bank's digital office, can benefit, during the first ten years, from a fixed interest rate of 2.25% TIN, to which a reduction of up to 0.30% can be applied, depending on the score obtained in the Home Sustainability Report.
The reduction in the installment is established based on the Home Sustainability Report created by Banca March, which evaluates the property according to ESG (Environmental, Social, and Governance) criteria, awarding a score that reflects its overall level of sustainability.
Unlike the Energy Efficiency Certificate (CEE), focused on energy consumption, the bank's report analyzes, from a comprehensive perspective, more than one hundred indicators grouped into three blocks: environmental, social, and governance.
Depending on the rating obtained, the customer can access different discounts on the initial interest rate.
Possible Discounts The bank evaluates the property and awards it a score from 0 to 10 based on its overall performance in environmental, social, and governance matters. Homes with a high score, between 9 and 10 points, will enjoy a reduction of 0.30 percentage points.
"We not only offer customers competitive mortgage products, but we also provide them with valuable information about their home, a key asset in their wealth," says Sonia Colino. "Sustainability has become a determining factor in the real estate sector, with a direct impact on property valuation, access to financing, and its economic projection."
In this way, Sonia Colino adds, "the application of discounts linked to sustainability is part of our global strategy to offer financial solutions that add value, promote sustainability, and drive the joint growth of customers, shareholders, employees, and society in general."
