Ecology boosts green sheds on self-built homes
The Ecology Building Society has increased rebates on green mortgages for self-built and custom-built homes up to 1.50%.
The self-build mortgage of the mutual starts with an initial rate of 4.65% (which goes to 4.99% from August 1). Upon completion, borrowers are eligible for its C-Change Sustainable Homes product rebates which range from 0.50% to 1.50% based on the standard assessment procedure in the energy performance certificate , or if the property is accredited to the Association of Environmental Conscious Building standard, or the Passivhaus low energy standard.
Previously, discounts ranged from 0.50% to 1.25%.
He adds that the move also includes the addition of dedicated discounts for homes built with an SAP rating of 100 to 109 and SAP ratings over 110, by 1.00% and 1.25%, respectively, which the company construction calls A+ and A++.
It says this rating “reflects the environmental performance of homes built to a standard that generate more energy than they consume.”
The lender points out that building regulations require that an SAP calculation and a projected ‘as built’ energy performance certificate be submitted for new homes before construction begins.
He adds that he will consider loans on a wide range of construction techniques, including those using non-standard materials and modern construction methods. `
The mutual also offers a renovation mortgage, when a property is purchased to be renovated or modernized. It will consider lending on homes in any state, “as long as the necessary work improves the energy efficiency of the property”. Its renovation discounts apply once the renovation is complete.
The company says: “The decision to increase rebates comes at a time when the government recognizes the urgent need to reduce the carbon impact of building homes and has said new homes significantly reduce carbon emissions by 75 % by 2025.”
Daniel Capstick, Mortgage Director of the Ecology Building Society, adds, “Now more than ever, it’s important that lenders take an active role in promoting green building and helping to reduce energy bills.
“We’ve been leading the way in sustainable mortgages for over 40 years, and we hope C-Change rebate updates will encourage our borrowers to build even more energy-efficient homes, which is critical in the fight against climate change.” climate change. .”