Greener Mortgage

• You must buy a new-build residential home with a certified or predicted energy rating of A or B. Prove the rating with an Energy Performance Certificate (EPC), a Predicted Energy Assessment (PEA) or a Standard Assessment Procedure (SAP) calculation.
• The property must be in England, Northern Ireland, Scotland or Wales. The Channel Islands and Isle of Man are excluded.
• A property counts as new build up to two years after it was built, converted or first occupied, whichever is later. A sale by the builder or developer counts regardless of the construction or conversion date. Flats converted from non-residential buildings follow the two-year rule; a residential house converted into flats does not count as new build.
• You must be resident in the UK with three consecutive years of UK address history. UK and Irish nationals temporarily working abroad can qualify if their income is in pounds paid into a UK bank account, they or their immediate family occupy the home, and the mortgage is affordable after UK and overseas living costs. They must not live or work in a sanctioned country, except British Armed Forces members posted there.
• Non-UK/Irish nationals need permanent rights to reside and work in the UK, or settled or pre-settled EU Settlement Scheme status. Nationals of sanctioned countries and foreign nationals with diplomatic immunity are excluded.
• You must be at least 18 when applying and generally no older than 75 years and 364 days at the end of the mortgage term. For an interest-only mortgage, where you pay interest during the term and repay the borrowed amount at the end, a lower limit applies if you plan to repay by selling the home and moving to a cheaper one: the term must end by the earlier of your declared retirement age or age 70 years and 364 days. Up to four people can apply; the income of the two highest earners is used.
• A property built or converted in the last ten years needs an acceptable warranty or professional consultant’s certificate issued at the time. Consultant certificates are not accepted for new-build flats or developments of more than one dwelling.
• Builder cash incentives up to 5% of the purchase price do not reduce the loan amount at borrowing levels up to 90% of the property value. Above 5%, the excess is deducted from the purchase price when calculating the maximum loan. For shared ownership borrowing above 90% of the share, all cash incentives are deducted.

Status

Doorlopend open

Apply through a professional mortgage broker, who submits the application to Virgin Money. New residential customer deals remain available through this route.

Obtain the A/B rating evidence from the builder, site office, sales manager, housing authority or government register. Submit it with the mortgage application and other supporting documents.