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Green mortgage rates – what you need to know

May 29, 2023

What are Green mortgage rates?

Green mortgage rates are available to first time buyers, movers and switchers where BER of the home is B3 or above. All new builds will have an A rating so all eligible.

If I renovate my home am I entitled to a Green rate mortgage?

If you are a purchaser (second hand) or switcher planning to do works to your home to bring the BER to B3 or above then you can also secure the Green mortgage rate subject to submitting BER once works complete. The only lender that will not allow mortgage draw down without BER cert at B3 or above is AIB Group, they need to see the BER cert upfront before funding so it will not work for anyone looking at funding home improvements.

Are Green mortgage rates lower?

Not all lenders offer Green mortgage rates but those that do tend to have a reduced rate for favourable BER of B3 or above or apply a discount on their standard rates for a positive energy rating.

What banks offer Green rate mortgages?

Green rates are available on 3, 4 and 5 year fixed rates across PTSB, BOI and AIB Group including Haven & EBS. BOI also offer a discount off their standard rates of 0.3% for mortgage applicants with Green rates. Some Green rates also come with cashback.

As at 29/05/2023, rates subject to change –

Example of Green Rates – based on mortgage €250,000 or above      
  BOI PTSB Haven Mortgages
1 & 2 year fixed – 2% cashback 4.10%    
3 & 5 year fixed – 2% cashback 4.20%    
4 year fixed 3.40%   3.65%
5 year fixed 3.70%    
5 year fixed – 2% cashback   4.30%  
5 year fixed – 2% cashback 4.20%    
7 year fixed 3.75%    
10 year fixed – 2% cashback 4.70%    
Haven Mortgages offer E2,000 cashback to switcher customers (only, not purchasers) in conjunction with their 3.65% rate.            
BOI cashback – 2% of the mortgage back in cash at draw down and 1% end year 5, subject to terms.                
PTSB cashback – 2% of the mortgage back in cash at draw down. Option to get monthly cashback 2% of each monthly repayment if you open an Explore current account, subject to terms.

Cashback offers are available from some lenders as above, subject to terms.

For more information on Green rate mortgages contact one of our mortgage advisors, or get started with your new mortgage or switch application.

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