Green mortgages are cheaper but there are grants for BER upgrade [Video]

Should buyers give Green Mortgages the green light, or are there better buys in older homes? Margaret Barrett of Mortgage Navigators shines a light on the pros and cons.

When house hunting, should you be swayed with the cheaper Green Mortgage interest rates to buy a new-build or a property with a good BER rating of B3 or above? Or is there a cost saving to be had in buying a previously owned property and renovating it?

The cheapest mortgage interest rate available from an Irish lender is 3.45%, which is a fixed rate for four years. This is for a property with a BER rating of B3 or above. Rates vary from 3.7% to 3.8%, for a BER of C and below.

Recently, an Irish lender adjusted its mortgage rate offering, with discounts on different energy ratings. The better the home’s energy rating, the higher the discount on their standard fixed …