Lenders often favour ‘green homeowners’, rewarding energy efficient households with lower interest rates and larger loans when purchasing more eco-friendly homes.
Looking to help both the planet and your home? A green mortgage could be your answer. We’re always looking at new ways to help save our household energy. Switching lights off. Swapping that bath for a shower. Avoiding the tumble dryer. We’ve all changed our habits over the last few years. A green mortgage could be your next step.
Green, or eco, mortgages reward you for saving energy at home. That could mean buying an eco-friendly house, or by making energy-saving improvements to your current home. A win-win for the planet and for your household.
What makes my home ‘green’?
A green home is an energy efficient home. They need less energy to run, and don’t waste any more than they need. The green-ness of your home is rated by its Energy Performance Certificate (EPC), which gives homes an efficiency rating between A to G. In general, lenders offer green mortgages to homes with an EPC rating of A or B, with most new builds eligible due to their high energy efficiency. New or old build, there are plenty of improvements you can make to save energy in your home and receive a green mortgage.
Why go green?
If doing your part for the planet wasn’t enough of an incentive, the financial rewards of a green mortgage are sure to appeal. Lenders often favour green homeowners, rewarding energy efficient households with lower interest rates and larger loans when purchasing more eco-friendly homes.
You may also be offered cashback and lower rates when making energy-saving improvements to your current home. All of this on top of reduced energy bills each month. A green home is a happy home!
Sounds good, but what’s in it for lenders?
Lending is all about risk. Luckily, green buildings are seen as less risky by lenders so you may be offered lower rates for your energy efficient home.
The greener your home, the lower your utility bills. The lower your utility bills, the lower the chance you’ll be strapped for cash and miss a mortgage payment. Less running costs means more money back in your pocket.
Green homes are also considered more attractive than properties with no energy-saving features and are expected to hold their value, even during property market dips. This ‘Green Value’ provides homes with much needed added security.
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Green Mortgages, All rights reserved. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. Green UK Mortgages Ltd, trading as Green Mortgages, is an appointed representative of HL Partnership Ltd which is authorised and regulated by the Financial Conduct Authority. There may be a fee for mortgage advice, however the precise amount depends on your circumstances. As we are independent and whole of market our fee may vary will be relative to your circumstances. Green UK Mortgages Ltd is registered in England and Wales with company number 11357070. Registered Office: Cholmondeley House, Dee Hills Park, Chester, CH3 5AR. The guidance and/or information contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.
