Barratt launches first ever green mortgage for energy efficient homes

Barratt Homes’ Mill Brae development

Homebuyers across Scotland can now save both money and the environment at the same time with the launch of the UK’s first green home mortgage.

Housebuilder Barratt Homes is working with Barclays Bank to introduce the mortgages which have lower interest rates because the qualifying homes are all energy efficient.

All new Barratt homes are up to 65% more energy efficient than older ones and come with features such as modern double glazing fitted with argon gas, insulation in the walls which is six times more efficient than that used in the 1960s, and the latest boilers which keep water hotter for longer.

The mortgages will be available through recommended new homes mortgage advisers and at Barclays Bank branches.

Adrian MacDiarmid, head of mortgages at Barratt Developments, said: “Our new homes are extremely energy efficient which saves customers hundreds of pounds each year through lower fuel bills. Now though customers can save money on their mortgage when they buy a new build home that also helps the environment. It’s another compelling reason to buy a new home that is so much more energy efficient than older ones and gives customers double the benefit.”

Hannah Bernard, head of Barclays Mortgages, added: “We are increasingly hearing from our mortgage customers that they’re interested in purchasing an energy efficient home. Given Barclays commitment to supporting our customers’ transition to a low-carbon and sustainable lifestyle, we have compelling reasons to launch this pioneering product. We’re looking forward to working with Barratt Homes and then expanding our offer to more customers and through more house-builders later this year.

“We’re proud to be the first major UK mortgage lender to offer a product that helps home buyers in their decision to purchase a green new build homes.”

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