"The UK currently has ambitious carbon targets to reduce emissions by 80% by 2050."
GoGreen Reward is the latest step the Society has taken to promote the uptake of green-focused 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 EPC of A or B can be evidenced within two years of the start of the self-build project.
Once the build has been completed, the borrower is able to transfer to a standard residential mortgage.
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.”
