Buying a Pearce home offers you more than just a great place to live; it's an opportunity to make an environmentally conscious decision. A Green Mortgage could reward that decision by helping you save money. Here's how:
What is a Green Mortgage?
What is a Green Mortgage?
Green mortgages are special types of mortgages that reward buyers for choosing or improving an energy-efficient home. When you buy a new-build home with high energy efficiency, many lenders may offer better interest rates, cashback offers, or exclusive incentives.
- Exclusively for homes with high EPC ratings (B and above)
- Typically offers lower interest rates than standard mortgages
- Encourages energy-saving improvements
How Do Green Mortgages Work?
Lenders consider the reduced energy bills of your new energy-efficient home when calculating your mortgage. This might allow you to:
- Choose reduced rates
- Receive cashback offers
- Borrow more based on projected energy savings
Considerations Before Applying
While green mortgages are an excellent option for many buyers, there are a few things to consider:
- You must pass standard credit and affordability checks.
- Costs for eco-upgrades like the installation of solar panels can be high.
- Always compare green and standard mortgage deals for the best terms.
Is a Green Mortgage Always the Best Deal?
While the incentives are appealing, green mortgages aren’t always the cheapest option across the market. It’s essential to compare all available deals to ensure you get the best overall value.
Next Steps:
If you're interested in applying for a Green Mortgage or want to know more about how it works with Pearce Homes, speak with our selling agents Webbers.
Green mortgages are subject to status, valuation and lender criteria. Interest rates, fees and terms may vary and are correct at the time of publication. This guide was produced with our selling agents Webbers and is for general information only. Neither Webbers nor Pearce accepts any responsibility for any errors or omissions. Always seek financial advice and compare mortgage products before applying.