
TSB has launched a green mortgage incentive where properties with an energy performance certificate (EPC) rating of A or B will be eligible for £250 cashback.
The offer is available across all TSB residential purchase mortgages, including shared ownership and shared equity.
It also includes new-build properties with a predicted EPC rating of A or B. The cashback will be paid on completion.
TSB has also been working with energy-efficiency firm Snugg to provide borrowers with a free, personalised improvement plan to cut waste and lower bills.
However, the launch of the new cashback offer comes as Atom Bank today published a report in conjunction with Experian and the University of Durham warning that by relying on EPC data, lenders could be over-estimating carbon emissions from homes in their mortgage book by up to 50%.
The study also found that the difference in emissions from the best and worst-rated homes on the EPC scale could be much less significant than previously thought.
TSB secured lending director Craig Calder says: “Our new energy efficient mortgage product range is a great example of rewarding homeowners for making energy efficient choices while also helping TSB to deliver on its net-zero commitments.
“The biggest challenge for anyone looking to reduce their home energy usage is knowing where to start, which is why TSB’s partnership with Snugg is so important to help cut through the confusion and support more people to take the first step towards a more sustainable household.”