Be Rewarded For Buying A Greener Home
Rising energy bills. Soaring fuel prices. Cost of living increasing. It’s easy to get down about everything going up!
But here at Mulgrave Properties, you could switch on to saving in more ways than one. Because our energy efficient homes qualify for ‘green mortgages’, meaning that on top of the savings you’ll make on your energy bills each month, you can unlock exclusive mortgage deals.
This is because our homes area built to meet a minimum EPC rating of band B, meaning you may get cashback and / or a better interest rate on your mortgage.
We can provide a Predicted Energy Assessment (PEA) before your property is finished, supplying you with forecasted figures, which can be used to quality for lower rates on 2 and 5-year fixed mortgages, providing you are purchasing the property to live in.
What incentives are currently available?
Halifax offers £250 cashback if you’re purchasing property with an EPC rating of A or B.
Nationwide offers £250 cashback on mortgages when buying a property with an EPC rating of B.
Barclays offers a preferential interest rate if you buy a new home with an EPC rating of A or B directly from a developer.
NatWest offers a preferential interest rate if you purchase a property with an EPC rating A or B. The maximum you can borrow is 85% loan-to-value.
Virgin Money offers a preferential interest rate for homebuyers who purchase a new-build property with an EPC rating of A or B. The maximum loan-to-value is 85%.
*Green deals and potential savings are correct at the time of writing
Do any non-high street lenders offer green mortgages?
Swansea Building Society offers a fixed percentage discount off its standard variable rate for homes with an EPC rating of A or B.
Gatehouse Bank offers a discounted mortgage interest rate on properties with an EPC rating of A or B, plus it’ll offset the property’s carbon footprint for the duration of the fixed term of the product you take out.
*Green deals and potential savings are correct at the time of writing
What is an energy performance certificate?
An energy performance certificate (EPC) is a document which indicates how energy efficient a property is. They are required whenever a home is built, bought or sold and last for 10 years.
The rating system goes from A to G, with the most energy-efficient homes receiving an A rating, and the least a G rating. Between July and September 2022, more than 420,000 new EPC certificates were logged in England, of which 84% had an energy-efficiency rating A or B.
Older properties typically have worse EPC ratings, with Halifax estimating that just 10% of pre-1900 homes have at C rating or better.
How Do You Apply for a ‘Green Mortgage’?
Applying for a green mortgage is very similar to applying for a normal residential mortgage, so there’s no need to do anything particularly differently.
Each lender will have its own terms and conditions and maximum loan-to-value rates and the property you want to purchase must meet a minimum level of energy efficiency. For example, Barclays requires an EPC at A or B.
When buying new with Mulgrave, you will receive a Predicted Energy Assessment to provide a forecasted EPC score, which lenders will ask to see to validate your eligibility.
Speak to our Mortgage Advisor’s Today …
We recommend speaking to a mortgage broker such as New Home Mortgages, as they will be able to highlight green mortgages for you, as well as access exclusive products / savings that aren’t available to the general public. Please email sales@mulgraveproperties.co.uk for details.
