A Guide to Green Mortgages in 2021
Did you know that you can benefit from lower interest rates on your mortgage the more energy efficient your home is? Green mortgages are not new but their popularity is set to increase as consumers continue to be interested in reducing their carbon footprint whilst making savings to their pockets.
Buying a new Countryside home could mean you are not only able to take advantage of these savings but also have the benefits of a ‘green’ home which includes increased energy savings, improved health and lower home repair costs. Independent Financial Advisor, Scott Howitt from Chartwells Mortgage Services explains all below.
What are green mortgages?
The UK government has been encouraging mortgage lenders to develop green mortgage products since publishing its Clean Growth Strategy in 2017. The idea was to develop cheaper mortgages which take account of the lower lending risk associated with more energy-efficient properties.
The idea is to make it pay to be green. Lenders offering green mortgages either give borrowers preferential terms if they buy an energy efficient home, or if they commit to improving the efficiency of their current home.
How do you get a green mortgage?
Eligibility criteria for a green mortgage varies from lender to lender, but the property’s Energy Performance Certificate (EPC) is typically a key factor. Homes are required to have an energy efficiency rating of 81 or above, or is in energy efficiency bands A or B - of which all Countryside homes fall into. We provide a Predicted Energy Assessment (PEA) before a home is built and this document is sufficient to be eligible for a green mortgage.
What makes a Countryside home green?
Use 705% less energy and save £1,723 a year on bills*
Our homes come with lots of energy saving features as standard, from best-in-class boilers to superb insulation and low energy LED lighting. Features like these provide cost savings for you on your monthly energy bills whilst giving the environment a helping hand too.
Filtered, fresh air to create healthier and cleaner homes
We install a Positive Input Ventilation (PIV) system in all of our homes, which takes fresh air from outside, and filters out any pollen or impurities, regulates the humidity and circulates the clean air throughout your home. Our PIV system is designed to create a healthier home environment by getting rid of damp and condensation which are the main causes of mould. The lower humidity levels reduces house dust mites and significantly improves the health of allergy and asthma sufferers.
Use 26% less water, saving a family of four £153.64 a year*
Our kitchen and bathrooms have water saving fixtures and fittings incorporated that don’t compromise on their performance or design. These features could save you up to 33 litres a day per person which adds up to a huge amount for your average family. Our taps and showers use aerated technology to provide the feeling of a strong water flow, whilst actually using less water. Plus, our dual low-flush toilets use the minimum amount of water to ensure less wastage.
Double glazing that is 269% more energy efficient*
Our very high efficiency double glazing provides the best of both worlds as it allows heat in from the sun but minimises it escaping in winter. This is achieved by having a gas filled cavity between the sheets of glass to prevent heat loss and a low-emissive coating to allow beneficial heat from the sun to warm the internal rooms.
For more information, get in touch with our team who can refer you to an Independent Financial Advisor, and click here to discover more reasons why you should buy new with Countryside.
*House energy consumption modelling of a 1930s home compared with a new Countryside home.