Bath Building Society has launched its first green self-build mortgage, working with BuildLoan and BuildStore.
The products are aimed at self-builders who include features such as solar panels, rainwater harvesting, passive house, biomass boilers, heat exchangers, solar thermal water systems or wind turbines in their builds, including renovations and extensions.
Applicants can choose from three new two-year discounted variable green self-build mortgages.
The offer includes enhanced affordability, no product fee and £1,000 cashback at the start of the project to help cover the cost of green features.
Craig Brown, chief mortgage officer at Bath Building Society, said: “We are delighted to extend our self-build range to include the new green products.
“The green mortgages complement our existing self-build range and align with our strategy to be a more sustainable Society.
“The Society is making strong progress towards reducing our own environmental impact, helped by our Head Office refurbishment and investment in new digital systems.”
Brown added: “Making sustainable home ownership more accessible and affordable for our Members is part of this commitment and the new green self-build products are a big step towards helping this happen, with a further green initiative planned to launch later this year.”
Chris Martin, director of operations at BuildLoan, said: “As the leading specialist distributor in the self-build sector, we fully support the growing momentum behind green lending.
“These new products that we have designed with Bath Building Society support those values by rewarding self-builders who focus on energy efficiency, carbon reduction, and long-term cost savings with new product incentives and higher borrowing potential by reflecting lower running costs in the affordability calculation.
“Bath Building Society customers will benefit from BuildLoan’s long-established support processes to support them in delivering good outcomes to their clients.”
Martin added: “This includes a professional review of build costs, cashflow analysis and guaranteed stage payments with no formal valuations during the build – all designed to ensure their clients get the money when they need it during their project.”
