Why?
The benefits of buying a new home are many but the most relevant, in the current climate, is that new homes are usually more energy efficient than older homes, meaning they are ultimately more economical to run and kinder to our planet as well as our pockets!
How?
Let’s compare!
To demonstrate how buying a newly built home could drastically reduce your outgoings, we have drawn up some direct comparisons between homes marketed by Lang Town and Country.
Disclaimer: Please note, the predicted energy ratings for the new build properties are based on average energy usage and do not consider the running of different types of appliances that may be used within the houses after build completion and during occupation.
EPC or SAP?
Much like the coloured stickers on new appliances, homes can be rated on their energy performance and their impact on the environment. The ratings for both go from A (the most efficient) to G (the least efficient). The higher rating, the more energy efficient the home is and the lower the fuel bills are likely to be. Regulations require that when homes are marketed, they have either an Energy Performance Certificate (EPC) or, in the case of new builds, a Standard Assessment Procedure – Predicted Energy Performance Certificate (SAP).
Buying with a mortgage?
All mortgage applications must have a valid Energy Performance Certificate (EPC) rated E or above, or a valid exemption. For applications above 75% LTV, the property must have an EPC rated C or above. Some lenders will offer lower interest rates and/or cashback and larger loans if your home meets a minimum energy-efficiency level. Other lenders will offer lower rates or cashback if you make energy-efficiency improvements or if you take out additional borrowing to pay for measures to improve your home’s energy efficiency.
The requirement for an up-front proof of EPC rating is NOT required for a New Build application, however, as an EPC will not be available until after the property is completed.
What are Green Mortgages?
If you would like more information on green mortgages please call us on 01752 278499 and we will be happy to put you in contact with a mortgage advisor with expertise in this area.
