What are green mortgages and how do you get one?
The Energy Efficient Mortgages Action Plan (EeMAP) and the Green Home Finance Innovation Fund (GHFIF) aim to create a green mortgage through which homeowners receive better mortgage deals for trying to improve the energy efficiency of their home or purchase an already energy efficient property. Progress on the creation of actual products has been slow and at the moment there seems to be little take up by British mortgage lenders and there is no universal definition of a ‘green mortgage’.
For example, you may be considering the installation of a renewable energy measure, upgrading your property’s insulation, installing a composting toilet or having a car charging point installed. If so, you will probably need a mortgage to raise cash to help you make your property more energy-efficient, sustainable and cost effective to run. This could be classed as a green mortgage.
Alternatively, one high street bank (Barclays) will provide you with a green mortgage if you’re buying an energy efficient new-build property from one of their partner house builders: Barratt Homes, Bellway, Berkeley Group, Bloor Homes, Bovis Homes, Countryside Properties, Crest Nicholson, Fairview, Kier Living, Linden Homes, Miller Homes, Persimmon Homes, Redrow and Taylor Wimpey.
We’re also doing our bit; for every mortgage we arrange, we pledge to plant 1 tree in the UK and to offset 1 tonne of CO2 through the Portel-Pará Reduced Deforestation project in the Amazon Rainforest. This joint project helps offset carbon, protect forests, and support biodiversity in 2 continents.
The trees are native broad leaf species and will be planted in schools and nature reserves across the UK. This not only supports the preservation of the UK's environment by supporting habitats & biodiversity, but also promotes environmental education as schools often get involved with the tree planting process.
The tonne of CO2 is offset through the Portel-Pará REDD project, which is working to prevent unplanned deforestation in native forests in the Amazon rainforest. The project is in an area of extreme importance for biodiversity conservation as the project zone also holds innumerous species of animals, including mammals, birds, reptiles, amphibians and fish.
Whatever you are considering, you should be reassured to know that we are specialists in lending for home renovations, including property extensions, conversions and refurbishments that improve the energy efficiency of a property. We understand that everyone’s different, and that’s why our approach is as individual as you. We can assist with:
- Remortgaging your home to raise cash to complete green home improvements
- Uninhabitable houses, including old/derelict buildings
- Thatched, historic and listed buildings
- Non-standard construction types, such as timber, straw bale, cob and earth shelter
- Barns for conversion
You may wish to help the new green economy and seek to retrofit your home with energy efficient improvements. For those in our local area, Dorset, it is worth knowing that we are working in partnership with Ridgewater Energy to help guide you through the different options that are most relevant and cost effective for you and your property.
Ridgewater Energy and their trusted network will advise you on what incentives or grants there might be, along with installing with least disruption and with the best quality products available to you. Simply speak with us or contact Ridgewater Energy with your requirements, and they will help narrow down the options before arranging surveys or referring you to the best locally based installer to help you with your enquiry.
Technologies and measures Ridgewater Energy can assist with:
- Solar PV
- Solar Thermal/ Thermodynamics
- Battery Storage
- Ground and Air Source Heat Pumps
- High Efficiency Electric Heating Systems
- Cavity Wall Insulation
- Loft Insulation
- Room in Roof Insulation
- External Wall Insulation
- LED Lighting Upgrades
Whatever your green mortgage requirements are, for free advice without obligation, contact us today on 01202 925365 or via our contact form. We'd love to hear from you.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
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