Virgin Money will be introducing an environmentally friendly reward scheme for existing residential and buy-to-let (BTL) mortgage customers. 

The new scheme, Green Reward, will offer customers £250 cashback when they take additional borrowing to make green home improvements, encouraging them to make sustainable choices.

Green Reward is available to the lender’s existing mortgage customers who take additional mortgage borrowing, either as stand-alone borrowing or as part of a mortgage product transfer.  

Virgin Money says the new scheme aligns with its environmental, social and governance (ESG) strategy.

It also follows the launch of its Greener Mortgages product in 2021. It rewards customers who buy new-build homes with an energy performance certificate (EPC) or predicated energy assessment (PEA) rating of A or B, with a lower mortgage rate. 

Virgin Money head of intermediary sales Richard Walker says: “At Virgin Money, we want to help build a brighter future, and we’re especially passionate about helping customers to go green.”

“Green Reward not only gives customers the chance to take a greener path and ultimately reduce emissions, but it can also help reduce heating bills at a time when we’re all looking to beat the squeeze.”