30 years ago we had never thought of or heard of Green Mortgages but now they are becoming more common.
All borrowers like lower, attractive interest rates and now some lenders are starting to offer discounted mortgage rates for eco-friendly properties. Usually, you would expect a Green Mortgage enquiry from a person buying a ‘New Build’ as many developers now market environmentally friendly properties.
That said, with the UK signing the Paris Climate Agreement to be carbon neutral by 2050 and now the UK government pushing to be 78% carbon neutral by 2035 and fully carbon neutral by 2040, more incentives will be offered by government for us to buy electric vehicles and make our homes more efficient with grants for new eco heating systems, loft, wall and floor insulation, triple glazing and more.
That said, for most property owners, we are buying older properties that are not eco-friendly yet. The clue is to look at the Energy Performance Certificate (all properties for sale must have one) to see where improvements can be made.
Both homeowners and landlords (if buy to let) should consider: