If you’re considering purchasing an eco-friendly home, you may be interested in a green mortgage. Green mortgages are home loans that offer incentives for energy-efficient and sustainable homes. One such incentive is cashback, which can help you save money while also reducing your environmental impact. In this article, we’ll explore cashback options for green mortgages and how you can save money while saving the planet.
What is a green mortgage?
A green mortgage is a home loan that incentivizes energy-efficient and sustainable homes. These mortgages offer lower interest rates, longer repayment terms, and cashback options to borrowers who purchase or make energy-efficient upgrades to their homes.
Cashback options for green mortgages
Cashback options are one of the incentives offered by green mortgages. Cashback is a lump sum payment that is credited to your mortgage account when you take out a green mortgage. This payment can help you cover the upfront costs of purchasing an eco-friendly home or making energy-efficient upgrades.
There are several green mortgages that offer cashback options in the UK. Here are a few of the options available at time of writing:
- Barclays Green Home Mortgage
Barclays Green Home Mortgage offers cashback of up to £1,000 to borrowers who purchase a new-build home with an energy performance rating of A or B.
- Nationwide’s Green Additional Borrowing
Nationwide’s Green Additional Borrowing allows borrowers to take out an additional loan of up to £25,000 to make energy-efficient upgrades to their home. Borrowers can receive a cashback payment of £500 when they take out this loan.
- Ecology Building Society’s Self-Build and Custom Build Mortgages
Ecology Building Society’s Self-Build and Custom Build Mortgages offer cashback of up to £750 to borrowers who purchase or build an energy-efficient home.
- Virgin Money Green Mortgage
Virgin Money Green Mortgage offers cashback of up to £300 to borrowers who purchase an energy-efficient home with an energy performance rating of A or B.
How to qualify for cashback options
To qualify for cashback options, you’ll need to meet certain eligibility requirements. These requirements vary depending on the lender and the type of green mortgage you choose. Generally, you’ll need to purchase a home with an energy performance rating of A or B, or make energy-efficient upgrades to an existing home.
Conclusion
Green mortgages with cashback options are a great way to save money while also reducing your environmental impact. By taking advantage of these incentives, you can cover the upfront costs of purchasing an eco-friendly home or making energy-efficient upgrades to your existing home. When considering a green mortgage with cashback options, be sure to compare interest rates, loan terms, and eligibility requirements to find the best option for you.
𝘼 𝙢𝙤𝙧𝙩𝙜𝙖𝙜𝙚 𝙞𝙨 𝙖 𝙡𝙤𝙖𝙣 𝙨𝙚𝙘𝙪𝙧𝙚𝙙 𝙖𝙜𝙖𝙞𝙣𝙨𝙩 𝙮𝙤𝙪𝙧 𝙝𝙤𝙢𝙚. 𝙔𝙤𝙪𝙧 𝙝𝙤𝙢𝙚 𝙢𝙖𝙮 𝙗𝙚 𝙧𝙚𝙥𝙤𝙨𝙨𝙚𝙨𝙨𝙚𝙙 𝙞𝙛 𝙮𝙤𝙪 𝙙𝙤 𝙣𝙤𝙩 𝙠𝙚𝙚𝙥 𝙪𝙥 𝙧𝙚𝙥𝙖𝙮𝙢𝙚𝙣𝙩𝙨 𝙤𝙣 𝙮𝙤𝙪𝙧 𝙢𝙤𝙧𝙩𝙜𝙖𝙜𝙚.
