A Green mortgage offers preferential rates for Home Loan Customers who can demonstrate the property for which they are borrowing meets with a Building Energy Rating (BER) of A1 to B3 (inclusive). This can be evidenced by way of a BER Certificate issued by The Sustainable Energy Authority of Ireland (SEAI) or an Engineers Certificate of Inspection for self-builds/structural renovations.
A Building Energy Rating (BER) rates the energy performance of your home on a scale from A (the highest) to G (the lowest). To find out more about BER, including applying for grants, costs involved for BER assessments, or downloading a copy of your BER certificate, visit the Sustainable Energy Authority Of Ireland (SEAI) Website.
BER certificates are valid for 10 Years. In some instances you may be provided with a Provisional BER certificate (buying a newly constructed property), and this is provisional certificate is valid for 2 years.
Yes, our Green Mortgage is available to both new and existing Home Loan customers.
You can avail of our Green 3 and 5 year fixed rate option if:
Structural Renovation is defined as the renovation or alteration of a building to such an extent that all or substantially all of the building that existed immediately before the renovation or alteration began, other than the foundation, external walls, interior supporting walls, floors, roof and staircases, has been removed or replaced. After completion of the renovation or alteration, the building is habitable.
Please note: Building plans plus costings and completed certificate of inspection have to accompany such applications.
If you are on a variable rate there is no charge to switch to the Green fixed rate. If you are on a fixed rate, you will be charged a breakage fee to switch to the Green fixed rate, unless you wait until your initial fixed rate term has matured.
After year five, the fixed rate will mature to the prevailing Managed Variable Rate unless an alternative fixed rate is selected. The Bank will issue you with an options letters, 60 days prior to the maturity of your current fixed rate. This letter will detail all alternative rate options available to you at that time. You will need to select the option most suitable to you, sign and return the options letter to us prior to your maturity date and we will apply your new rate selection upon expiry of your current rate.
After year three, the fixed rate will mature to the prevailing Managed Variable Rate unless an alternative fixed rate is selected. The Bank will issue you with an options letters, 60 days prior to the maturity of your current fixed rate. This letter will detail all alternative rate options available to you at that time. You will need to select the option most suitable to you, sign and return the options letter to us prior to your maturity date and we will apply your new rate selection upon expiry of your current rate.
