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Green mortgages

What are they and how might they save you money? Here’s everything you need to know, all in one place.

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What is a green mortgage?

Green mortgages are offered by some UK banks and building societies to encourage homeowners to buy energy-efficient and environmentally friendly homes. Green mortgages are available on energy efficient new homes because they may cost less to run due to decreased utility bills. This could mean that the borrower is in a better financial position to be able to repay their loan.

What are the benefits?

Aside from the obvious benefits to our planet of greater energy efficiency, there are financial incentives to homeowners. If you buy an energy-efficient home, you might be offered a cheaper rate, a higher loan or a standard rate with cashback. 
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Who offers green mortgages?

A number of major lenders offer green residential mortgages in the UK, as a way of demonstrating their sustainability credentials. Deals and details do vary from lender to lender so it’s worth shopping around or speaking to our Sales Executives for the best advice.
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How do I know if my new home qualifies?

You will need to provide evidence of your property’s energy performance certificate (EPC) rating. This states how energy efficient your property is, with ratings between A, the highest, and G, the lowest. Green mortgages tend to be offered on properties rating as A or B, while some may consider a C. 
Typical Taylor Wimpey home

Why do we need green mortgages?

The UK has signed up to the Paris Agreement to limit global warming to 1.5°C. As a nation we’re aiming to reach net zero emissions by 2050 (in Scotland it’s 2045). As around 14 per cent of the UK's carbon emissions come from heating homes, it has become a priority for house builders and house buyers to improve the energy efficiency ratings of residential properties.
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How energy efficient are Taylor Wimpey homes?

Our homes include energy-efficient walls and windows; insulated loft spaces; 100% low energy light fittings and LED recessed downlights; and appliances that are at least A-rated for energy efficiency. This reduces running costs for our customers and helps cut carbon emissions. On average, our standard house types are designed to achieve an Energy Performance Certificate rating of at least a B.
Typical Taylor Wimpey homes