Properties with EPC 'A' rating get a £1,000 cashback, those with EPC 'B' receive £500 back
Later life lender Standard Life Home Finance has announced a new energy performance certificate (EPC) scheme aimed at promoting sustainable homes.
Customers completing a Horizon or Horizon Interest Reward lifetime mortgage will be offered a free EPC assessment through Vibrant Energy Matters. Properties that receive an EPC ‘A’ rating will be rewarded with a £1,000 cashback, while those with an EPC ‘B’ rating will receive £500.
Eligibility for the cashback extends to customers with a valid EPC certificate from the past five years for homes older than 10 years, and any time for newer properties.
The scheme is available through any whole of market adviser registered with Standard Life Home Finance.
For customers using lifetime mortgage funds to buy a new home, cashback will be offered based on an existing EPC certificate, but a free EPC evaluation will not be provided.
“In recent years, we’ve seen green mortgages, sustainable housing and EPC considerations rise rapidly up the agenda for homeowners, so we’re excited to be offering free EPCs to our customers,” said Sanjay Gadhia (pictured), head of sales at Standard Life Home Finance.
“People have experienced serious shocks to their bills in recent years, from the gas price shock in 2022 to the energy price cap expected to fall by 7%, so having a good EPC rating is not only important for the climate but for our customers’ wallets too.
“Providing a lump sum in cashback to the most sustainable and energy-efficient properties will provide a financial incentive for customers with lower EPC ratings to invest in their property. Not to mention that the funds released with a lifetime mortgage can allow homeowners to make refurbishments resulting in a greener home with lower energy bills. Customers considering this as an option should always consult an adviser for support.”
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