Bank of Ireland is introducing a new fixed rate mortgage product that will offer tiered discounts for homes that have a Building Energy Rating of any level.
"The concept behind EcoSaver is simple – the more energy efficient your home becomes, the more your EcoSaver mortgage interest rate reduces. Almost three quarters of the housing stock in Ireland is BER C and lower," said Alan Hartley, Director of Homebuying, Bank of Ireland. The move comes amid some criticism that under their green mortgage, many banks are increasingly only offering discounted rates to those whose homes have the highest BERs.
However, the bank has pointed out that customers who are already on a fixed or tracker rate lower than what is currently on offer, even when the discount is factored in, may not benefit from moving product.The banks is partnering with SSE Airtricity to provide a BER assessment to customers, as well as assessment of works needed, quotes and home retrofitting services.