A green or eco mortgage is a mortgage designed to provide a discounted rate for those that have homes with an EPC rating of A or B.
We are seeing more lenders be innovative and release ‘Green’ products however these are exclusively mainstream across all lenders and therefore a ‘Green’ mortgage despite having a discount still might not be the cheapest option available.
What is an EPC?
An EPC or ‘Energy Performance Certificate’ is a rating following a review of how energy efficient your home is. These are also designed to provide an indication of energy bills. All homes in UK require a valid EPC certificate before it can be sold, once a review has been completed the certificate is valid for 10 years.
The EPC rating of the home will depend on the following factors:
● The amount of energy used per m2
● The level of carbon dioxide emissions