You are here: Home - News -

E.ON and BNP Paribas to develop ‘green mortgages’

by:
  • 17/10/2018
  • 0
E.ON and BNP Paribas to develop ‘green mortgages’
Energy provider E.ON has teamed up with banking giant BNP Paribas to develop and pilot ‘green mortgages’.

 

The pair aim to provide homeowners with finance through their mortgage to improve the energy efficiency of their home.

Under the scheme, movers, first-time buyers, and remortgagors will be able to use their mortgage to borrow further via a linked ‘energy efficiency home improvement loan’.

BNP Paribas Personal Finance would provide the improvement loan financing and E.ON would provide a managed service to install appropriate energy efficiency solutions.

The improvements through the loan could also result in a discounted mortgage rate once the energy efficiency measures have been verified via an updated EPC, the two firms said.

It comes after Bank of England staff recently found more energy efficient homes were a lower credit risk.

Around 19m households in Britain fall below an Energy Performance Certificate (EPC) Band C rating and could save up to £380 a year by putting basic measures in place, according to E.ON and BNP Paribas.

Michael Lewis, chief executive of E.ON UK, said: “Green mortgages have the potential to be a game changer in the delivery of affordable finance and we are ready to meet the challenge for home-owners motivated to take the step into energy efficient living.

“Our agreement with BNP Paribas Personal Finance is a further step along this journey and brings together two well-known international companies with expertise in financing and delivering energy saving solutions across Europe.”

Claire Perry, minister for energy and clean growth, added: “The UK has led the world in cutting emissions whilst growing our economy –  with clean growth driving incredible innovation and creating hundreds of thousands of high quality jobs.

“10 years on from the Climate Change Act, the first ever Green GB week is a time to build on our successes and explain the huge opportunities for business and young people of a cleaner economy.

“I’m delighted to see how many more businesses and organisations such as E.ON and BNP Paribas Personal Finance are seizing this multi-billion pound opportunity to energise their communities to tackle the very serious threat of climate change.”

There are 0 Comment(s)

Comments are closed.

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • Jo Wilson from Legal & General Home Finance talks about her Best BDM nomination and her love for the equity release… https://t.co/0tHhv6Lwvc
  • Sponsored content: Four reasons your client wants a product transfer by Halifax Intermediaries… https://t.co/c1k3dj88LO
  • Nationwide trims rates as Accord ups cashback on buy-to-let deals - https://t.co/nbsZh3z49u

Read previous post:
Duncombe: What makes a good broker? The Mortgage and Protection Event 2018

Jeremy Duncombe, director of intermediaries, Accord Mortgages will be asking ‘What makes a good broker?’ in his session, joining our...

Close