Archive: Can a Green Mortgage save you money?
Despite energy prices being frozen, many of you may be concerned about fuel bills. In fact, latest figures show that searches for Green Mortgages have grown a third recently*. So we thought we would look at can a Green Mortgages save you money and how these type of mortgages work.
Adam Nanson, impartial mortgage broker at Your Mortgage Expert comments:
What is a Green Mortgage?
“Broadly speaking, there are two types of Green Mortgage. We can provide Green Mortgage Advice on both of the following types:
- Green Mortgages that reward you for carrying out home improvements that make your home more “green”. The lender will generally offer you a discounted interest rate or cash back if you upgrade your home’s efficiency. This could include things like installing solar panels, putting in more energy efficient windows or changing your heating system to an air source or ground source heat pump.
- Green Mortgages that offer you rewards for having an energy-efficient home. You’ll need to supply the EPC and evidence that the home has an EPC rating of A or B. If you qualify you’ll get cashback or a better interest rate on your mortgage or in some cases remortgage.
Will a Green Mortgage be suitable for me?
“If you are interested in looking at a Green Mortgage, it would be prudent to seek Green Mortgage Advice from an impartial mortgage broker like Your Mortgage Expert.
“Not all the lenders offer Green Mortgages and these types of mortgages are still relatively new. There might be some circumstances where a standard mortgage might offer you a lower rate or a more suitable overall deal.
“For further information on can a Green Mortgage save you money or to find out if this type of mortgage is for you why not get in touch? We can compare the Green Mortgages from across the market against the other mortgage available to advise on which mortgage is suitable based on your circumstances.”
Simply call us on 01722 322683 or complete a contact us form on our website and tell us when it would be best to get back in touch with you.
The information contained within this article was correct at the time of publication. It is intended for information only and does not constitute advice. Your Mortgage Expert Ltd and Mortgage Advice Bureau cannot be held responsible for information that was correct at the time of publication but subsequently changes or goes out of date due to changes in legislation.