The European Union wants to encourage the purchase and renovation of low environmental impact houses. The ENGY EFFICIENT MORTGAGES INITIATIVE (EEMI) project provides for subsidized conditions on mortgages intended for properties in energy class A or B or to be restored to improve its energy performance. In theory, an opportunity for those who dream of a green house. But in practice how do you really behave Italian banks? Altroconsumo He wanted to find out with an investigation on the field.
Let’s see what emerged.
Hunting a green mortgage
Altroconsumo It turned to 79 branches of 11 banks in 8 large Italian cities (Bari, Bologna, Genoa, Milan, Naples, Palermo and Turin) in the role of normal customers: a couple of forties with a monthly income of 3,800 euros that needs a mortgage of 210 thousand euros lasting 30 years, to buy a house that has a value of 300 thousand euros and is in energy class B.
Concrete offers of green mortgage have been requested with the aim of checking if the banks that adhere to the European project really offer subsidized mortgages, with transparency and respecting the rules.
The investigation took place between May and June 2025. The “mysterious customers” went to banks branches that declare that they propose Green mortgages – from Intesa Sanpaolo to Bnl, from Unicredit to Mediobanca Premier – to collect real simulations and evaluate the correctness of the information provided.
What emerged? Do banks offer green mortgages? Yes, but not always. Out of 79 requests, banks provided 56 Green mortgage offers (82% of the total) and 12 of ordinary mortgage. Eleven agencies refused to provide any estimate, pretending to be income documents or signed purchasing proposals, in contrast with current legislation. Curiously, two giants in the sector – Unicredit and Intesa Sanpaolo – have shown themselves among the least inclined to promote the green option, often proposing ordinary mortgages even in the presence of the requirements to access the subsidized ones.
Let’s find out the best green mortgages immediately.
The best green mortgages
These were the best green mortgages, different depending on whether the rate is fixed or variable.
Fixed rate:
Variable rate:
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But is it really worth a green mortgage?
On average, yes. The green mortgages collected in the investigation have a lower rate of 0.30% than traditional equivalent. By comparing two “twin” offers you can also notice more marked differences: for example, Mortgage Domus Green Under 46 of Intesa Sanpaolo has a 2.77% tax (installment 842.92 euros) against 3.32% of the standard version (installment 899.02 euros). In the case of the variable rate, the Green variable orange mortgage of Ing (Taeg 2.45%) is more convenient than the “non -green” (2.67%), with a monthly installment of about 22 euros lower.
Green mortgages represent a concrete lever to promote energy efficiency in the real estate sector. But if on the one hand the economic conditions are often more advantageous, on the other the behaviors of banking institutions are not yet aligned with the rules and objectives of the European project.
Poor transparency and incorrect practices
The most alarming data that emerges from the investigation concerns transparency. Only in 16 cases out of 68 offers collected was the compulsory information sheet provided for by law was delivered. In two out of ten cases, no document has been provided: only the invitation to “look at the site” or use comparators online. Despite the calls of the Bank of Italy, the practice of informing the customers correctly and in writing remains an exception. Only a branch – Credem in Turin – provided all the documentation in compliance.
Another critical knot is the combination of the mortgage with the opening of a current account. The consumer code prohibits that the granting of the mortgage is subject to the purchase of other bank products. Yet, in 65% of the agencies visited, it was stated that opening a current account in the bank was “indispensable” or “strongly recommended”. An incorrect practice, still too widespread, despite the repeated warnings of the supervisory authorities.
The house policy sold as compulsory in 4 out of 10 cases
In 43% of the agencies, the granting of the mortgage was bound to the signing of the Casa Casa sold by the same banking institution. In fact, there is no obligation to buy the policy at the bank that delivers the mortgage: the customer is free to choose from the market offers. On costs then there are enormous differences, they range from 1,300 euros requested by an Intesa Sanpaolo branch to the 6,528 euros of a branch of Banca Popolare di Milano.
Even the life policy (or Credit Protection Insurance) sold to “protect” the mortgage in case of death, remains a sore point. Fortunately, on 68 offers only two agencies (BPM and BNL) have proposed the purchase as mandatory.
Altroconsumo However, it relaunches the need for greater transparency, compliance with regulations and protection of consumer rights. To really protect your investment, it is essential to be informed, compare the offers and claim the documentation required by law.
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