New Bank of Ireland green mortgage offers varying discounts for all BER levels
Bank of Ireland has announced that its fixed-rate green mortgage range will now offer customers discounts for homes with energy-efficiency ratings from A right down to G.
This new EcoSaver mortgage will replace the bank’s current green mortgage offering and is effective from April 18th. The move comes amid some criticism that under their green mortgage, many banks are increasingly only offering discounted rates to those whose homes have the highest BERs.
Customers with a home carrying a Building Energy Rating (BER) of A would qualify for a 0.35 percentage point discount against the prevailing fixed-rate price for their loan product. The discount narrows to 0.3 points for B-rated homes, right down to 0.05 points for G-rated properties.
The prevailing five-year fixed rates for owner-occupied properties with a loan of less than 80 per cent of a building’s value are, for example, 4.15 per cent for exiting customers and 4.75 per cent for new mortgage applicants.
Bank of Ireland aims to grow so-called sustainability-related lending on its balance sheet to €30 billion by the end of the decade, from €8 billion in 2022.
“Savings made through EcoSaver rates will contribute to the cost of retrofitting a home, so our customers can save money and improve their homes,” said Aine McCleary, chief customer officer with Bank of Ireland.
For further information on this , call us on 071 9194194 or email mortgages@obg.ie
