Mortgage designed to encourage energy-saving

The Ecology Building Society has launched a discount scheme which rewards energy efficiency and carbon saving measures. C-Change Retrofit offers 0.25% off its standard variable rate for each grade improvement made in either the energy efficiency or environmental impact rating once works are completed – on the whole mortgage, for the full duration of the loan.

This is a departure for EBS. They say:
“for the first time, we’re extending our mortgage range specifically to support people who own ordinary properties. With our homes using three times as much energy as our cars – contributing over 27% of our [carbon dioxide] emissions in the process – we feel it’s essential to help everyone make their home as Eco-friendly as possible. We hope that adding a cheaper mortgage to the prospect of lower energy bills and better air quality will provide a tangible incentive for people to live more sustainably.”

The EBS autumn newsletter also includes some helpful links to other organisations with an interest in retrofit. (Kevin McCloud of Grand Designs is an advocate)

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