What are Green Mortgages?


Gary Oxborough is Practice Principal here at Barlow Irvin Financial Services.  This month, he explains what Green Mortgages are, and how you can be rewarded for having an energy efficiency home.

The rising cost of energy must be the biggest domestic news story of the moment. Not a day goes past at the moment without more articles about the “cost of living crisis”. As well as the obvious environmental benefits to our planet of using less energy, it certainly makes economic sense to try and be as energy efficient as we can be.

Did you know there are now such things as “Green Mortgages”, which will reward you for having an energy efficient home? There are now quite a few lenders offering enhanced mortgage deals under the Green Mortgages banner. These deals may well offer a slightly reduced interest rate or an additional cashback on completion. They are available on purchase and remortgage applications as well.

To qualify for one of these deals, your home should have an energy efficiency rating of A or B. You can check if your home is classed as energy efficient on the government website here.

If your home doesn’t meet the criteria, there are many ways that you can improve the efficiency, such as installing better insulation or a new energy efficient boiler, to going all the way to installing solar panels. Of course, if you need help financing these improvements, we are here to help. You may even find that the savings you make on your energy bills goes towards offsetting the cost of the project.

As always, our team is ready to answer any questions you have on this or any other query you may have.  Please give them a call on 01204 304 814.

As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments

About the author 

The Barlow Irvin Team

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