What is a ‘Green mortgage’ and how do you qualify?
A key advantage to new build homes is the increased energy efficiency – not only do new build homeowners save money on their energy bills, but they can also take advantage of green incentives when it comes to applying for a mortgage.
How Homes Are Ranked for Their Energy Efficiency
In short, an EPC rating is a review of a property’s energy efficiency. Every home is ranked from A-G on energy efficiency, with ‘A’ being the most efficient rating.
The Green Advantage
Lenders are recognising the value of environmentally friendly properties and are willing to incentivise your decision to go green. This includes buying an energy-efficient new build home.
Money Saving Expert explains that lenders view energy-efficient homes as less risky investments. In the era of climate change, this mindset aligns with the global push towards sustainability. Not only are you contributing to a greener future, but you’re also making a financially sound decision.
What Do You Need to Do to Qualify for a Green Mortgage?
Green mortgages generally fall into two categories: Those that reward you for living in an energy-efficient home and those that reward you for carrying out ‘green’ home improvements. Buying a St Arthur home will allow you to take advantage of a ‘green mortgage’ thanks to an excellent EPC rating.
Favourable Interest Rates and Cashback
On top of the savings you’ll make on your energy bills each month, with a green mortgage, lenders will offer you cashback and/or a better interest rate. Note: you should always shop around for the best mortgage offer, but these deals can often beat out standard mortgage offers – plus, the cashback will certainly be a welcome bonus for your move!
Stay Tuned for More Tips and Insights
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Remember, an energy-efficient home isn’t just good for the planet; it’s great for your wallet too! Invest wisely, live sustainably, and enjoy the rewards of a greener lifestyle with St. Arthur Homes. Also we think you might be interested in learning the costs of buying a home to help you understand the wider financial aspects.