Business

AIB offers lower mortgage rates for energy efficient homes

AIB’s green mortgage will be offered for properties with an EPC rating in the energy bands A or B.
AIB’s green mortgage will be offered for properties with an EPC rating in the energy bands A or B. AIB’s green mortgage will be offered for properties with an EPC rating in the energy bands A or B.

AIB has launched a new mortgage offering lower rates of interest for properties with an energy performance certificate (EPC) rating in bands A or B.

The lender has also announced that it will plant 10 trees in Northern Ireland for every ‘green mortgage’ that is drawn down, in partnership with ‘Trees on the land’.

Brian Gillen, who heads up AIB’s retail division in the north, said the package rewards conscientious home-owners or buyers.

“Our latest AIB Sustainability Index reveals that now more than ever people are aware of the economic, social and environmental benefits of embracing sustainability," he said.

The survey showed that 76 per cent of respondents identified sustainability as something important to them in their daily lives. Another two-thirds also recognised the important role that banks have to play in the fight against climate change.

“This innovative product and partnership with Trees on the Land reflects these trends and the strong sustainability ethos we have at AIB,” added Mr Gillen.

AIB’s green mortgage is open to those buying a home, or those who already have a mortgage loan with the bank and whose property has an EPC rating in the energy bands A or B, subject to criteria. AIB also offers up to £2,000 cashback on its green mortgage subject to qualifying criteria. It also comes with no application or booking fee and new customers will receive a free valuation.