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UK mortgage options just got a little bit greener, with banking giant Barclays now offering a Green Mortgage scheme. A summation of the scheme is as follows: if you buy an energy efficient home, you can qualify for a lower mortgage rate. With the aim of supporting greener choices, the lower rate applies on “certain deals”. For example, you will need to buy energy efficient new-build property from one of the bank’s partner housebuilders: Berkeley Group, Crest Nicholson, Countryside Properties, Redrow or Barratt Homes.

There are also a few other caveats, such as the requirement that the new home fit into the A or B categories of the EPC energy efficiency rating.

The new scheme was introduced as a result of growing pressure by the UK government’s Green Finance Taskforce.

Hannah Bernard, head of Barclays Mortgages, said: “We are increasingly hearing from mortgage customers that they’re interested in purchasing an energy efficient home. We’re proud to be the first major UK mortgage lender to offer a product that helps buyers in decision to purchase a Green new build home.”

You can learn more about the mortgage scheme and also the preferential rates here.

*To review how UK mortgage options compare on the ethical company index, visit the Ethical Mortgages section of The Good Shopping Guide.

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