TSB has launched a new energy efficient mortgage range giving customers £250 cashback if their new home has an Energy Performance Certificate (EPC) rating of A or B.
The cashback is available on all residential purchase mortgages, including shared ownership and shared equity, and also applies to new-build properties with a predicted EPC rating of A or B.
The cashback will be paid on completion and forms part of TSB’s wider support to help homeowners cut energy use and costs.
The bank works with Snugg, a platform that provides free, personalised home energy improvement plans.
Since the partnership launched in 2023, almost 5,000 TSB customers have registered, with 76% saying they were more likely to make improvements after using the service.
Snugg data shows that completing a plan can save an estimated £622 annually on energy bills and cut average annual CO2 emissions by 2,160kg.
The platform has also helped 57% of customers access grants towards energy improvements, with an average of £4,169 available per household.
Craig Calder, secured lending director at TSB, said: “Our new energy efficient mortgage product range is a great example of rewarding homeowners for making energy efficient choices while also helping TSB to deliver on its net-zero commitments.
“The biggest challenge for anyone looking to reduce their home energy usage is knowing where to start, which is why TSB’s partnership with Snugg is so important to help cut through the confusion and support more people to take the first step towards a more sustainable household.
“My advice for anyone looking to improve the energy efficiency of their home is to start with an up-to-date EPC assessment, and then consider the low-cost items first, like those suggested by Snugg, as you’ll be surprised how much of a difference they can make.
“Also check out what grants you may be eligible for, as that extra money can go a long way.”
