Newbury Building Society has introduced a green incentive to its self-build mortgage, to encourage homebuilders to make more conscious sustainable choices.

The society’s ‘GoGreen Reward’ is the latest step Newbury has taken to promote the uptake of its green-focused mortgage products, following the launch of its GoGreen further advance to its existing borrowers.

The new incentive is only applicable on the society’s 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, Newbury revealed it 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.

All self-build applications will also be assessed on individual merit with tailored underwriting and no credit scoring, the society confirmed.

“We’re excited to further expand our green mortgage offering into the self-build sector,” commented Newbury lending manager, Roger Knight. “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.”

Share Story: