26 Oct 2010 11:10:07
Self build eco-mortgage launched
An eco-mortgage product designed for those looking to build their own green homes has been launched by BuildStore.
Designed to increase accessibility and affordability for those looking to build an eco-friendly property, the company claims that the mortgage offers rates up to 0.75 percent lower than lenders' standard rates.
Each project applying for the eco-mortgage will be required to meet certain criteria with regard to building materials, energy performance and green energy generation.
It is being launched at the Big Green Home Show, which takes place at The National Self Build and Renovation Centre in Swindon between October 29th and 31st.
Jaclyn Thorburn, spokeswoman for BuildStore, said there is high demand for sustainable home projects.
She added that the premium paid for eco-building materials mean there is likely to be a significant upfront cost and "lending for these types of building materials and features can be difficult to come by".
The interest rate on the mortgage stands at 4.24 percent, which applies to all the funding, not just the proportion used for green features.