Barclays introduces new ‘green’ mortgage.

The Green Home Mortgage has recently been launched by the lender, Barclays Mortgages.

To encourage new-build home buyers to purchase an energy efficient property, Barclays are rewarding customers with a mortgage product that has lower rates.

This is a new initiative started by Barclays but it is hoped by the government that other lenders will soon follow suit.

The lender is offering the product in collaboration with five building companies at the moment, although they have plans to make it more widely available by the end of next year.

The mortgage is available on homes that have an EPC rating of A or B. The rate offered is up to 10bps lower than other residential mortgages offered by Barclays. On an average property, this could mean savings of up to £750 over 5 years.

An average three bedroomed property with an energy rating of A or B can save up to £585 annually. The combination of the mortgage with the energy efficiency rating can add up to substantial savings for you over time, but before applying for this mortgage straight away, you would be wise to consult with a professional.

After reviewing your circumstances, Deal Direct offer a full mortgage search service. We are a ‘whole of market’ broker and can compare and contrast mortgage products from all across the UK. Our no-stone-unturned approach means ensuring we find the best mortgage option possible for you, eliminating much effort and time-wasting on your behalf.

For further information on this and other new mortgage products that have recently been launched, contact Deal Direct.

Our advisors are available now on 0800 048 8828 or chat with us online.