Greening our homes is a key priority for fighting climate change as well as cutting monthly bills. With new mortgage discounts of up to 1.25% from Ecology Building Society the financial incentives just got bigger!
Our homes currently consume three times as much energy as our usage of private cars, and account for over 27% of CO2 emissions.
Saving the amount of energy we use in our homes is a meaningful way to cut costs and carbon emissions and, alongside World Wide Fund for Nature (WWF) the Ecology Building Society feel it should be a priority in the fight against climate change. That’s why, as the Committee on Climate Change proposes a 20% increase in the 2050 target for the reduction of greenhouse gas emissions, the Ecology are launching a tiered range of mortgage discounts that reward and encourage energy efficient housing.
As well as saving on monthly energy bills, green home-owners can reap further financial benefits through rate discounts now accessible at the Ecology Building Society. The C-Change Sustainable Homes discounts (you’re right, the C stands for Carbon) offer between 0.5 and 1.25% off their Standard Variable Rate (SVR), depending on the energy rating a new or existing eco-home achieves – the higher the rating, the higher the discount. With the Ecology’s current SVR of 6.45% borrowers could currently be paying as little as 5.20%.
And, because the Ecology Building Society believes that improving the energy efficiency of homes is a long lasting solution to climate change the C-Change Sustainable Homes discount comes with a life-time guarantee.
So, unlike many other more ephemeral mortgage products on the market the C-Change discounts offer members a continued reduction in mortgage payments. Put this new benefit alongside cheaper bills and lower carbon output and it’s easy to see why a green home can be a real saver!
Ecology’s CEO, Paul Ellis, stresses; ‘Our C-Change discounts are there both to encourage developers to strive for sustainable excellence and to reward residential borrowers for making sustainable choices for their homes. By making the cost of our mortgages cheaper over the long term, together with our low and transparent fees, the Ecology is fighting hard to dispel the myth that there’s a premium to pay for being green.’
Ellis continues; ‘With spiralling energy prices it makes sense for homeowners to make sure their houses are as energy efficient as possible, and the C-Change discount helps borrowers save even more.’
Whilst Simon McWhirter, campaign manager at WWF reinforces the ecological significance of the C-Change Sustainable homes discounts “Low carbon homes are a key priority in the fight against climate change.
This is a mortgage product with the potential to encourage some meaningful change by helping bring eco-homes further into the mainstream. These homes won’t just be kinder to the environment, but will be cheaper to run and will be infinitely more comfortable to live in.”
A major client of the Society, Green Lane Construction’s CEO Ronnie Nevell, summed up how the C-Change mortgage is becoming more relevant; “If homebuyers aren’t worried about reducing their carbon footprint, there are plenty who are worried about the impact of rising energy prices on their wallet!”
Jack Taylor – Marketing Manager firstname.lastname@example.org
Ecology Building Society Tel: 01535 650770
7 Belton Road Fax: 01535 650790
Silsden Web: www.ecology.co.uk