What Is a Green Mortgage?

If your home has been built with the environment in mind, a green mortgage might be for you. Greener homes are seen as a lower-risk investment to banks and lenders, so, if you can prove that your home meets the environmental standards needed, you may be entitled to cheaper interest rates or additional cashback. The amount will vary from each lender, so it is best to complete thorough research to find the best deal.

Generally, green mortgages have two categories – energy efficient homes, or green home improvements.

• Energy efficient home green mortgages reward the homeowner for purchasing an already efficient home. To qualify for this, your home should have an EPC quality of A or B. To understand if your new home qualifies, take a look at its EPC rating in the description of the property.
• Green home improvement green mortgages reward the homeowner for carrying out environmentally friendly improvements to their home, such as installing solar panels or upgrading insulation.

Alongside the preferential rates you may receive with a green mortgage, owning a St. Modwen Homes energy efficient property can also help you save money in other ways.

• Reduced heating bills thanks to improved energy efficiency.
• Reduced water bills thanks to water saving devices.
• Reduced electricity bills due to large windows and open plan spaces.