"Since we introduced green mortgages, we’ve seen customers have been increasingly interested in purchasing energy efficient homes"
Customers who purchase a new build via selected developers can now access a preferential rate from NatWest's green mortgage range without an EPC.
The new build developers participating initially will be Barratt Homes, Berkeley Group, Crest Nicholson, L&Q, Keepmoat Homes, Galliard Homes and Bellway. Customers buying from these developers will be automatically able to apply for a discounted green mortgages without a need for an EPC as they have been found to be building to a high A/B EPC rating, as well as building in sustainable practices which closely aligns with NatWest’s climate ambitions.
Recent research from NatWest’s Greener Homes Attitudes tracker found that EPC rating has become increasingly important for prospective homeowners, with 39% of homebuyers looking to move in the next 10 years said that a property’s EPC rating was a ‘very important’ factor. This represented a marked increase from 32% in June last year.
Last year consumers placed EPC rating as one of the least important factors when they considered buying a home. However, the figures show there was an increase in those saying an EPC rating of C or above was ‘essential’ with 20%, this increased from 16% in June last year.
Gary Sutherland, head of distribution for home buying and ownership at NatWest, said: “We want to help home buyers to make greener choices, particularly as properties make up 15% of the UK total climate emissions and one of the core parts of our purpose as a bank is to help address the climate challenge. It is important to us that the selected developers closely align with our climate values and together we can widen our offering to support customers in having a positive effect on the environment. Since we introduced green mortgages, we’ve seen customers have been increasingly interested in purchasing energy efficient homes and this has been reflected through our quarterly Greener Homes Attitudes Tracker. We look forward to continue working with our partners to develop our green product offering.”
Adrian MacDiarmid, head of mortgage lender relations at Barratt Homes, said: “We are delighted that the process change by NatWest today allows our customers to benefit from their green mortgage product range. Many homebuyers tell us that they want to make green choices, and also to take advantage of the significant savings from energy efficiency that buying a brand new home offers. This is therefore an important step on the road to ensuring that we provide as many easy options as possible for them to do so.”
