Not all homes qualify for a green mortgage. The key factor lenders look at is your property's Energy Performance Certificate (EPC) rating. This A-G graded certificate indicates how energy efficient your home is. Generally, the higher the rating (A being the most efficient), the better your chances of qualifying for a green mortgage and its perks.
Green mortgages are only offered on homes with an EPC rating of A or B. New build homes tend to have a very high EPC rating due to modern methods of construction, materials used and regulations for energy efficiency of new homes. All Strata’s homes have an EPC rating of B and above. This often leads to significant savings on energy bills, another plus of new build homes, with the HBF research revealing a saving of up to £2,575 per year when switching from an older property to a new home.
The UK government is actively encouraging green mortgages as a way to meet climate change goals and improve the energy efficiency of homes across the country. With increasing lender participation and potential government incentives, green mortgages are poised to become a significant force in the UK mortgage market.
So, if you're looking for ways to save money, reduce your environmental impact, and live in a more sustainable home, then a green mortgage could be the perfect solution for you. Remember to speak to a mortgage advisor to help you shop around effectively and make sure a green mortgage aligns with your overall financial goals.
