Everything you need to know about Green Mortgages

Green mortgages explained

“A Green Mortgage is a type of mortgage product that’s offered by the majority of lenders now.” Explains Scott Howitt at Chartwell Mortgage Services.

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“It’s basically a product that is available to people who are buying predominantly an A or a B EPC rated property. That has the qualification to say ‘this is an energy efficient home’ and by pure virtue, the customer will qualify for a Green Mortgage.” 

The incentive

“The reason that Green Mortgages are around is that lenders recognise and acknowledge the cost of running that particular home would probably be lower than if it didn’t have that type of certificate.

“What does that mean for the customer? It means that it’s quite likely that the green mortgage product they take out - as opposed to a standard mortgage product - will be a little bit lower on cost and it may well be that the Green Mortgage offers some form of other incentive.”

The reality

Mike Sanders decided to go for a Green Mortgage and here he tells us why.

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 He knew very little about Green Mortgages before speaking to Countryside and one of our trusted financial advisors.

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But he says the process was quick and he even received £250 cash back for taking out a Green Mortgage.

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Ongoing savings

As energy costs continue to rise, more and more buyers are favouring new build homes because of their energy efficiency, with research by the The Home Builders Federation finding owners of new build houses see average annual savings of £2000 on household bills. 

To find out how our homes are 27% more energy efficient than the national average, check out our handy ‘Greener By Design’ guide.