'A really good thing' How Britons could access cheaper mortgage rates - can you?

Samir SharmaAug 11, 2021Business

During an exclusive interview withExpress.co.uk, Matt Coulson from Heron Financial said: “One thing that we are seeing is a lot more lenders introducing products on the mortgage side that will be a cheaper rate if the property is more energy efficient. They’re calling them ‘green mortgages’ or ‘eco-mortgages’.”

This gives the property an energy efficiency rating from A or 100 (most efficient) to G or zero (least efficient) and is valid for 10 years.

Green mortgages can offer more competitive mortgage rates as some lenders discount these as a reward for purchasing an energy efficient home.

Other lenders offer cashback as an incentive.

For example, NatWest offers cheaper rates to people buying energy-efficient homes.

DON’T MISS

NatWest’s Green Mortgage is available on new-build or existing homes with ratings of A or B.

It is available up to 85 percent loan-to-value and comes with £250 cashback.

Nationwide also do their own deals.

They offer cashback for home improvements.

Mr Coulson continued: “New builds are attractive from that front. The idea that all you have to do is move in and get your furniture.

“It’s not going to be leaking, you don’t have to do a lot of work, you won’t have to immediately get in a plumber or an electrician and things like that. What you’ll find is that a new property will be right up at the top because it’s got the best insulation, the best windows. That whole energy efficiency thing has been completely wrapped up.

“Some clients are benefiting from a cheaper mortgage rate because their home is more energy efficient.”

It’s highly likely that green mortgages will become more mainstream in the next few years.

This is due to consumers and lenders taking a greater interest in climate change and sustainability.

Stay connected with us on social media platform for instant update click here to join our T witter, & Facebook

We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.

For all the latest Business News Click Here

For the latest news and updates, follow us on Google News.

Read original article here

Denial of responsibility! TechAzi is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.