There are many advantages to buying an Avant new build home, with energy efficiency being one of them. As well as saving money on your monthly energy bills, you could benefit from a lower interest mortgage rate, or even cashback, thanks to many lenders now offering Green Mortgages.
Green mortgages are a special type of mortgage offered by some banks and lenders to anyone looking to buy an energy efficient, environmentally friendly home.
They work the same as any other mortgage product, but some lenders, such as NatWest, Halifax, Barclays, Virgin Money or Nationwide, will reward you with a lower interest rate, cashback and/or a larger LTV (loan-to-value) if your home is energy efficient.
Each lender will have its own criteria when it comes to Green Mortgage eligibility.
You’ll need to provide evidence through your property’s energy performance certificate, which will state how energy efficient your home is on a scale of A (highest) to G (lowest).
While there might be some exceptions, Green Mortgage products will normally require the house you’re buying to have an EPC rating of A or B for it to be considered.
The good news is that if you choose one of Avant’s energy efficient homes, you’re likely to qualify for one of the many Green Mortgage products currently being offered on the market!
This is because all our new build homes have an EPC rating of A or B and are packed with energy efficient features. This means lenders will be more inclined to offer you the chance of a lower interest rate on their loan or give you cashback on completion day.
Not only does a greener home benefit the planet, but it will also mean less money coming out of your bank account!
Depending on the lender you choose, you could receive a Green Mortgage with a discounted two-year or five-year fixed rate, meaning more affordable mortgage repayments and lower energy bills at the end of each month.
As is always the case with mortgages, deals and details do vary from lender to lender.
Some also offer better rates by applying online, meaning we recommend shopping around the Green Mortgage market to find the package that suits you best.
You can also get in touch with your Sales Advisor, who will be able to put you in touch with a new build mortgage specialist for any further information you might require.
