EBS launches first green mortgage rate of 2.1%

ESB launched its first green mortgage rate of 2.1%.

He said the four-year fixed rate is available to new and existing customers.

It is available to those with a home loan whose property has a builder energy rating (BER) between A1 and B3, and a valid BER certificate that is no more than ten years old.

The lender said the rate is available regardless of a customer’s loan to value (LTV).

EBS said the new rate could save customers up to €2,976 a year on their mortgage.

“We are delighted to launch the first EBS Green Mortgage, which offers eligible customers monthly savings on their mortgage payments to go green,” said Paul Butler, Managing Director of EBS.

“Not only will customers save on their monthly mortgage payments, having an energy-efficient home means they’ll also save money, while doing their bit for the environment,” he added.

According to EBS, customers with a standard variable rate of 3.7% would save €248.02 on their monthly repayments if they switched to the fixed rate of 2.1% over four years.

He said this calculation is based on a mortgage of €300,000 over 25 years.

In addition to offering residential mortgages, EBS offers personal banking and savings services and sells retirement and insurance products on an agency basis.

Last month, it began a review of its operations that could see its future direction focus on strengthening its mortgage business while making efficiencies in other areas.

RTÉ News understands that no decision has yet been made on what those efficiencies might be and that the review is ongoing, with a final plan expected to be agreed this year.

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