BARRATT Developments Scotland has revealed the business is ‘well on its way’ to meeting top energy efficiency standards set out by the Scottish Government.
Latest research by the housebuilder shows that all of Barratt’s new homes are built to a minimum EPC rating of B or above. This puts the firm ahead of schedule in meeting the Scottish Government’s Heat in Buildings Strategy, which sets builders the target to achieve a good standard of energy efficiency, and by 2033 to meet at least an EPC band C standard.
Barratt has also announced a new partnership with Halifax bank that offers green mortgages to buyers, which means those purchasing Barratt’s homes could be offered a larger loan with lower interest rates as a consequence of their smaller anticipated energy bills.
Doug McLeod, regional MD for Barratt Developments in Scotland, said, “A new generation of homebuyers could find new homes with green credentials as their only affordable option. We know that energy spending can be a major household outgoing and a big part of the consideration when buying a new home.
“Environmental considerations are also becoming increasingly important for home buyers as we search for ways to create a net zero carbon emission society, and at Barratt Homes we are committed to playing our part by enabling our customers to make greener choices when it comes to buying a new house. The affordability of some of the green mortgage deals, combined with the energy efficiency and cheaper running costs of new build homes, are already leading to more and more first-time buyers taking the new build route into home ownership.”
Last month, Barratt launched a zero carbon home concept called the Z House that will be occupied and monitored to assess its performance. The company has also declared its commitment to reduce direct carbon emissions by 29% by 2025 and to achieve net zero greenhouse gas emissions in its own operations by 2040.
David Balfour, account director at New Homes Mortgage Scotland, said, “We are increasingly hearing from our customers that they’re interested in purchasing an energy efficient home as they prioritise environmentally-friendly lifestyles. Green mortgages are most commonly available on new build homes where homebuyers could benefit from cheaper rates and cash back incentives.
“Eligibility for many of the green mortgage deals is linked to the property’s EPC rating – for example, it might need to be A or B. A large proportion of the UK’s housing stock is old. This is one reason why more and more homeowners and first-time buyers are choosing new build properties that are sold with excellent EPC ratings of B and above.”