Bank launches green mortgage to help homeowners become more energy efficient
- Credit: Tim Harley-Easthope
NatWest has launched a range of new Green Mortgages to support customers in their green ambitions.
Many consumers are thinking of ways to combat climate change as we begin the new year, including looking at ways to make homes greener and more energy efficient, said the bank.
The Green Mortgages offer discounted interest rates to customers purchasing a property with an Energy Efficiency Rating of A or B. Every home must have an Energy Performance Certificate (EPC) when it is built, sold or rented which gives the property an energy efficiency rating from A or 100 (most efficient) to G or 0 (least efficient) and is valid for 10 years.
Research recently undertaken by the bank found that 70% of NatWest customers are concerned about climate change but were unsure about how to reduce their carbon footprint.
The Green Mortgages supports the bank’s pledge to help customers become more energy efficient with an ambition that 50% of the bank’s mortgage book is at or above EPC C or equivalent rating of C by 2030, it added.
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The new offering will be available at 60%, 75% and 85% LTV and will apply to residential homes as well as new builds.
The announcement also follows the recent launch of NatWest’s pilot partnership with fintech app, CoGo. The app provides the bank’s customers with access to a tracker to calculate their carbon footprint in real time based on their spending habits, while offering curated suggestions for how they can reduce their environmental impact with the option to offset emissions.
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Janat Hulston, managing director of retail banking for the Midlands and East of England at NatWest, said: “We want to help home buyers to make greener choices, particularly as properties make up 15% of the UK total climate emissions and one of the core parts of our purpose as a bank is to help address the climate challenge.
“Our customers in the East of England and the UK are increasingly interested in purchasing energy efficient homes and by offering those customers a lower mortgage rate, we want to have a positive impact on the environment. This is just one of many ways NatWest is supporting and encouraging greener choices.”
To assess the Energy Efficiency Rating of your home visit https://find-energy-certificate.digital.communities.gov.uk.
For more information on ways to making greener choices to to the NatWest Go Green hub.