Category Archives: Mortgage

Renewable Energy Solutions for Reducing Energy Bills

Renewable Energy Solutions for Reducing Energy Bills in Homes and Businesses

In an era where environmental sustainability and cost efficiency are paramount, renewable energy solutions are increasingly becoming the go-to option for homeowners and businesses alike. Given Malaga’s enviable climate with 300 days of sunshine a year, leveraging these solutions can significantly reduce energy bills while contributing to a greener planet. Let’s explore some of the most effective renewable energy solutions: Solar Panels, Solar Battery Storage, Heat Pumps, Underfloor Heating, and EV Car Chargers, and understand how they can be particularly beneficial in a sunny locale like Malaga, Spain.

Solar Panels
What They Are & How They Work: Solar panels convert sunlight into electricity using photovoltaic cells. These cells absorb photons and in turn release electrons, which flow through the cell and generate electricity.

Benefits: Solar panels significantly reduce electricity bills, have low maintenance costs, and offer a sustainable energy source. They also increase property value and provide energy independence.

Savings in Malaga: The abundance of sunlight in Malaga maximizes the efficiency of solar panels, ensuring a higher yield of electricity generation and, consequently, greater savings on energy bills.

Solar Battery Storage
What It Is & How It Works: Solar battery storage systems store excess energy produced by solar panels for later use. This ensures that the energy is not wasted and can be used during nighttime or cloudy days.

Benefits: Enhances the efficiency of solar energy use, provides a backup during power outages, reduces dependence on the grid, and can lead to significant savings on electricity costs over time.

Savings in Malaga: With Malaga’s ample sunshine, solar battery storage allows homeowners and businesses to maximize the use of solar energy, further reducing the reliance on grid electricity and lowering energy costs.

Heat Pumps
What They Are & How They Work: Heat pumps transfer heat from the air, ground, or water outside of a building to the inside (or vice versa). They use a small amount of external power to accomplish the transfer of a large amount of heat.

Benefits: They offer an energy-efficient alternative to furnaces and air conditioners, can provide both heating and cooling, and significantly reduce heating costs.

Savings in Malaga: Although Malaga enjoys a warm climate, the cooler months can still benefit from the efficient heating solutions provided by heat pumps, offering year-round comfort with lower energy consumption.

Underfloor Heating
What It Is & How It Works: Underfloor heating is a form of central heating that achieves indoor climate control for thermal comfort using conduction, radiation, and convection. It can be powered by electricity or water heated by solar energy or heat pumps.

Benefits: It provides even heating throughout a room, frees up wall space (no radiators required), and is highly efficient, leading to lower heating bills.

Savings in Malaga: Given the mild winters, underfloor heating in Malaga can provide comfortable warmth without the high costs associated with traditional heating methods, especially when combined with renewable energy sources.

EV Car Chargers
What They Are & How They Work: EV car chargers are devices that supply electrical energy to recharge electric vehicles. They can be installed at home or in business premises and powered by the building’s electricity supply, ideally supplemented by solar panels.

Benefits: They offer the convenience of charging your vehicle at home, reduce reliance on public charging stations, and can be powered by renewable energy for further cost savings and environmental benefits.

Savings in Malaga: With the high number of sunny days, powering EV chargers with solar panels in Malaga can virtually eliminate the fuel costs associated with commuting, maximizing the financial benefits of owning an electric vehicle.

Adopting renewable energy solutions in Malaga, Spain, is not just a step towards reducing carbon footprints but also a highly cost-effective decision. The region’s abundant sunshine enhances the efficiency and savings potential of solar-powered solutions, making it an ideal location for investing in solar panels, solar battery storage, and EV car chargers.

Meanwhile, technologies like heat pumps and underfloor heating provide efficient climate control, further reducing energy bills. Altogether, these renewable energy solutions present a compelling case for those looking to enjoy sustainable living and significant savings in Malaga.

Solares Energies | #1 for Renewable Energy Solutions in Southern Spain

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Filed under Mortgage

Getting a Mortgage – A roof above your head

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If one is looking to get his or her first home then one does need a mortgage. I would suggest that even before looking to buy a house we must arrange the mortgage part. However if one has a good income, a bank balance and a good credit standing then one will be able to get a mortgage in silver quick time. However if one has the less credit limit and if one is self employed and not a very fat bank balance then maybe one will have to start a year earlier for the mortgage before even thinking about the house.

A mortgage broker’s opening line is always “Do you have a copy of your credit report?’ That line is enough to make the strongest heart sink. Without this piece of paper nothing can and will be done regarding the mortgage. Thus it is most crucial to meet the mortgage broker three to four times in the start of the process. In this very competitive market it has been seen that the agent will not bother to show you any house or home unless the mortgage papers are complete.

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Besides the documents there is one thing more than one will need and that is money. One will need money for down payment, a year’s worth of payment of taxes and insurances and finally closing costs. All in all one will need a lot of money. One will also have to make sure that one has some extra money as a buffer. This is in case one loses his or her job in the mean time. However there is an issue as to what should be the amount of down payment to be given. The thumb rule is twenty per cent of the total cost of the house. However the lesser amount one pays for down payment the higher will be the EMI. Also if the down payment is less than the twenty per cent that is compulsory then one will have to pay private mortgage insurance otherwise known as mortgage insurance premium.

btOne will get a lower interest rate if the down payment is higher. Hence the less one puts down; the more expensive will be the mortgage insurance and higher the interest rate. Here are a few points before getting a mortgage:

  • Before looking at homes it is better to meet a mortgage officer.
  • Pay off as much debt as one can as lenders will always look at your income and debts
  • Have good credit habits before going in for a loan as habitually paying your credit bills late will result in lowering your credit score.

  • Be prepared to document everything such as tax returns, bank statements to verify the source of income one plans to use.
  • It is good to show a solid work history as this gives the lender confidence in arranging for the loan.
  • Do not buy anything on credit while the loan is pending. Should one do so then in all probability he or she will be killing the deal.

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Filed under Broker, Mortgage, Points To Remember