Avail Mortgages brokers are brokers who provide mortgage services across the UK. From first-time buyers to those seeking guidance over concerns such as poor credit history, we can find you a mortgage solution that is suitable to your needs. One of the mortgage schemes our experts can use their industry knowledge and assist you with is a green mortgage. Learning about climate change and how the mortgage package you choose can determine the impact you make on the planet can be a major deciding factor for those in the market for homeownership. Our mortgage brokers and advisers are always there to help with mortgage queries or concerns and can help put your mind at ease with their open and honest approach. Our mortgage advisors will guide you through every step of the process, and our mortgage brokers will find you suitable deals.
What is a Green Mortgage?
Residential properties make up 15% of the UK’s total emissions.* A green mortgage is seen as an environmentally friendly way to gain a mortgage. It essentially rewards the homeowner for purchasing an energy-efficient home by including incentives such as a lower interest rate, offering a reduced rate on a two or a five-year fixed-rate mortgage, and cashback when taking out the mortgage. More brokers are pushing for a green mortgage in order to meet the climate change targets as agreed in the Paris Agreement.*
As stated in the LENDERS project report, it has been noted by the UK Green Building Council that most current mortgage calculators do not factor in qualities such as the energy performance of the property. This means Green Mortgage products are linked to documents such as Energy Performance Certificates,* otherwise known as EPCs. These certificates show an energy-efficient rating starting from the most efficient to the least. Your Green Mortgage is dependent on your Energy Performance Certificate rating. What qualifies as a green property can vary from lender to lender.
In most cases, this means the older the property, the less likely you will be able to meet the criteria as it is only in recent years that the majority of new builds have come to include an existing sustainable rating. Therefore, if you want to apply for a green mortgage for an older home, you’ll have a higher likelihood of needing to invest some of your money first in renovating the property to improve its environmental rating. Some lenders will require you to purchase the new build directly from the developer and may request a check of your predicted energy assessment before considering your mortgage.
Green buildings also boast a range of benefits, proving advantageous not just to the environment but to the business or individual owning it too. For example, due to an increase in demand, they have increased in value (environmentally friendly buildings are becoming more and more attractive in today’s housing market). They also cost less to run as your monthly bills will be generally reduced for energy and water consumption. As with most mortgage repayments, the terms are usually between 25 and 30 years.
Who is a Green Mortgage for?
A green mortgage is generally for everyone. However, it is particularly suitable to you if you are someone who is moving into a new-build home, as this type of property will more likely already be eligible for a Green Mortgage.
As more and more people are becoming conscious about looking after the planet and doing what they can, we will be sure to see a surge in interest for climate-friendly home improvements in the coming years.
As with regular mortgages, green mortgages are open to everyone with the lower age limit restriction being 18 years old, with no upper limit. Using our extensive industry knowledge, our team of experts can work with you to make sure you have everything you need to qualify for a green mortgage including working with third parties such as Holden Smith Law to ensure you are covered legally. We can help to find you the most compatible rates and deals that meet your requirements.
How to Make Your Home More Environmentally Friendly
As increasingly more mortgages are offering a green incentive, if you already have a more traditional mortgage in place but are interested in protecting the planet and would like to make a switch to a greener alternative, our advisors will be able to talk to you about remortgaging your home. This may include making some green renovations if you own an existing property that doesn’t quite reach the criteria; however, it is worth noting that making these changes could be costly and to factor the practicality of having this work done versus the long-term cost savings you’ll make, such as reduced rates on your mortgage payments, when deciding which mortgage will benefit you best. This includes the other types of mortgage services we provide.
The incentives to switch or start a green mortgage vary – while some focus on interest rates, others reward you by providing larger loans when you make energy-saving improvements to your property. These energy-efficient improvements can include installing solar panels to the exterior of your home to reduce its reliance on non-renewable power sources. When buying appliances for your home, make sure they are A-rated. Appliances such as washing machines are now rated A or better, while certain dishwashers have now been designed to use less water and heat than you would when washing them manually.
Other ways you can improve the green rating of your home is by insulating your roof, switching to triple glazing windows, and updating your boilers. Modern boilers have been engineered to recycle energy, taking excess wasted heat and using it to preheat the heating system, making them more energy% efficient.
Another way to make your home more environmentally friendly is by using smart power strips. We all regularly use household electronics, which we often leave on standby. Did you know that, according to research by the Energy Saving Trust, when such appliances are left on standby, they still use between 9% and 16% of energy in the home?* This can set you back as much as £80 a year.
While the upfront costs may be costly on an old property, if you have a new-build house, look into speaking with the developer and see if it is possible to use renewable energy such as solar panels. An alternative to this would be to look into using a smart meter. A smart meter will help you keep track of the heat usage within the home, which will help to reduce your household’s carbon footprint and, as such, your energy bills, which have a tendency to creep up, especially during the colder months.
Making these changes independently will not guarantee automatic eligibility for a green mortgage scheme, so it’s important that you speak to an advisor first, such as our qualified team at Avail Mortgages. Here, we will be able to consult you on whether remortgaging for the benefits of a greener plan would suit your current circumstance, or if any potential changes are needed.
How Can Avail Mortgage Brokers Help You?
At Avail Mortgage Brokers, we have a team of advisors on hand to help you with any questions you have about applying for a green mortgage. Together, we work to find you a suitable deal that suits you and your needs.
We ensure our clients are treated fairly and equally and make sure they are being kept in the loop at every step, with no hidden surprises. Transparency is incredibly important to us, which is why we keep you updated through every part of our process. This includes alerting you of any issues which may arise. If this is the case, we will alert you as soon as possible, making sure you remain in the know and are never left out of pocket.
We put your goals at the forefront of everything we do. We understand you have other commitments and life can happen, which is why we support in alignment with your schedule, allowing you to speak to your mortgage adviser at a time that is suitable for you.
Communication is something we pride ourselves on at Avail Mortgage Brokers. We pride ourselves on making sure you can contact our advisors through a range of platforms, including WhatsApp, email, a simple phone call, or whichever other form of communication works for you. We have a high client retainer rate, which is a testament to the trusted advice and products from leading organisations across the UK. This, alongside our industry knowledge of over 35 years, has allowed us to develop firm relationships with industry partners, meaning we can continue to offer our clients competitive rates and qualified advice to rely on.
Should an issue arise where you require additional mortgage support, we will ensure the issue is resolved as quickly as possible. Alongside offering green mortgages, we also provide a range of other services, such as Life Insurance and Let to Buy mortgages.
Based in the heart of Yorkshire, we work across Leeds, York, Harrogate, Sheffield, Bradford, as well as nationwide. Have a question about your application for a green mortgage? Our mortgage brokers provide help for all types of clients. Make an appointment with a member of our team today for a hassle-free approach to finding your mortgage match.
Get In Touch
For a hassle-free approach to bad credit mortgages that takes your financial circumstances into account and provides you with the best mortgage Lenders around, please contact Avail Mortgages today. Our mortgage brokers provide help for first time buyers, home movers and those looking to remortgage, as well as those in need of funds. Supporting clients around the UK including areas such as Leeds, York, Bradford, Harrogate, Sheffield and Huddersfield, our adverse credit mortgage brokers will do all they can to help, and provide you with the best possible live rates around. So, what are you waiting for?