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Newbury Building Society has bolstered its green offering by introducing a GoGreen Reward incentive to its self-build mortgage to encourage homebuilders to make conscious sustainable choices.
GoGreen Reward is the latest step the Society has taken to promote the uptake of green-focussed mortgage products following the launch of its GoGreen further advance to its existing borrowers.
The GoGreen Reward is only applicable on the current self-build mortgage and is designed to encourage borrowers to combat climate change by implementing sustainable, energy-efficient features into the build of their home. By doing so, the Society will refund half of the application fee paid at the start of the mortgage if an Energy Performance Certificate (EPC) of A or B can be evidenced within two years of the start of the self-build project.
The self-build minimum loan amount is £50,000. Mortgage overpayments are accepted, and the product is postcode restricted. Once the build has been completed, the borrower is able to transfer to a standard residential mortgage.
All self-build applications will be assessed on individual merit with tailored underwriting and no credit scoring.
Roger Knight, Lending Manager at Newbury Building Society said: “We’re excited to further expand our green mortgage offering into the self-build sector. The UK currently has ambitious carbon targets to reduce emissions by 80% by 2050. One of the most cost-effective ways of doing this is by lessening – or by cleaning up - the energy homeowners currently use in their properties. We believe the GoGreen Reward on our self-build mortgage, and our promise to refund half the application paid if a positive EPC rating can be proven, will encourage people to make their homes more energy-efficient.”
- New instant chat service now available
- No credit scoring - all cases are assessed on individual merit
- Tailored underwriting with each case individually considered
- A dedicated BDM happy to help you on an individual basis
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