NatWest is to offer a preferential interest rate to new or existing customers who are looking to re-mortgage an energy efficient property.
Available through direct channels including in branch, over the phone and via the website, the new product offers a discounted interest rate to customers re-mortgaging a property with an an Energy Performance Certificate (EPC) rating of A or B.
The bank has set a target for 50% of it mortgage book to be above EPC C by 2030. To this end, NatWest is currently conducting a ‘Green Plan’ pilot. Similar to a financial health check, the Green Plan uses APIs to recommend the top actions customers can take to reduce their homes carbon footprint.
Lloyd Cochrane, head of mortgages at NatWest Group says: “We experienced increasing customer demand for a green re-mortgage product and we’re happy to respond to this. One of the core parts of our purpose as a bank is to help address the climate challenge and as the principal banking sponsor supporting COP26 in Glasgow later this year, we want to act as a catalyst in supporting the reduction of the carbon footprint from UK residential properties.”