Following Standard Bank’s securing of a $250 million loan from the International Finance Corporation (IFC) to enhance its green financing initiatives, funds have been directed towards green building developments and green home loan customers, offering a unique opportunity to assist residential home buyers to access incentives that unlock affordability of properties in qualifying Green certified developments.
Key Benefits for Homeowners
- Access to Green Home Loans: Homeowners can now access financing to purchase homes that meet global green construction standards, ensuring energy efficiency, water savings and sustainability.
- Cost Savings: Green homes typically offer lower utility bills and stable electricity supply, making them more cost-effective in the long run.
- Increased Property Value: Homes built to green standards often have higher property values, providing a solid investment for the future.
Supporting Sustainable Development
This initiative aligns with Standard Bank’s commitment to sustainable development and the growing demand for eco-friendly housing. By providing tailored financial solutions, Standard Bank aims to make green homes more accessible and affordable for South Africans. Standard Bank, already a leader in the residential home loan sector in South Africa, hopes to further grow and entrench its position as a sustainable financier of choice in the residential property and home loan sector.
This is a unique opportunity for Standard Bank Home Loan customers, who purchase their properties in a Standard Bank approved EDGE-certified development. Subject to meeting certain qualifying criteria, these customers would benefit from both discounted home loan rates, as well as a cash back reward based on value of the home loan.
Standard Banks commitment: Clive Spitz, Head Climate Solutions at Standard Bank Personal and Private Banking, emphasized the Bank’s responsibility in helping drive a change toward a greener Home Loan Book by unlocking opportunities for a broader segment of SA home buyers by accessing these funding opportunities.
Standard Bank’s commitment to green financing is evident in its green home loans book which has grown exponentially over the last 2 years. This collaboration with IFC will help create a more sustainable real estate landscape.
IFC Collaboration: Cláudia Conceição, IFC’s Regional Director for Southern Africa, highlighted the importance of expanding access to finance for certified green buildings. This partnership supports high-impact segments like affordable housing and women homeowners, contributing to a more inclusive and resilient economy.
Residential home loan owners now have a fantastic opportunity to invest in green homes, benefiting from financial incentives and contributing to a sustainable future.
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