Bank of Ireland offers mortgage holders rewards for going green [Video]

A new Bank of Ireland mortgage deal will reward borrowers with lower interest rates as they improve the energy efficiency of their home step-by-step.

Bank of Ireland has shifted the interest charges on its fixed-rate loans to run in line with a property’s Building Energy Rating (BER).

So the higher the BER, the lower the interest rate charged under its ‘EcoSaver Mortgage’, which is available from April 18.

Previously, lenders only offered discounts only for homes in the A and B BER bracket, but now Bank of Ireland is reducing rates at each step of the rating ladder so even small home improvements are rewarded.

Bank of Ireland’s Mark Leech said: “Previously people could not get a discount for a ‘green mortgage’, because they just covered BER A and B.

“Most people wouldn’t be in that bracket, with properties that are older.

“No green mortgage to date has discounts for properties that are C or lower.”

The Bank of Ireland deal, believed to …