Press Releases • February, 2020
Kensington Mortgages launches market first eKo Cashback Mortgage
Kensington Mortgages launches first eKo Cashback Mortgage
- £1,000 cashback for qualifying customers making energy efficient home improvements
- A market-first, designed to help make existing UK homes more environmentally friendly
- Customers only need to improve their energy rating by 10 Standard Assessment Procedure (SAP) points within 12 months of completion to qualify
London, 25 February 2020: Kensington Mortgages, the UK’s leading specialist mortgage provider, has today launched a market-first – a mortgage that rewards environmental home improvements – the eKo Cashback Mortgage. Whether an individual is buying an older home, or simply remortgaging – Kensington will pay £1,000 for improving the property’s energy efficiency evidenced on their Energy Performance Certificate (EPC).
The eKo Cashback Mortgage offers the cashback when a homeowner improves their energy efficiency within the first year of completion. Homeowners only need to increase their energy rating by 10 SAP points – the equivalent to insulating a hot water cylinder and installing low energy lighting, or putting in solar panels, or loft insulation.
Kensington’s eKo Cashback Mortgage is a proposition for all individuals, across all properties in the UK. Starting from 3.04% at 75% LTV, the eKo mortgage also comes with free valuations, and free legal advice on remortgages.
What counts as energy efficiency improvement?
|Energy Efficiency Improvement||Points|
|1||Swap to a condensing boiler||47|
|2||Install double glazing (UPVC)||4|
|3||Upgrading roof insulation||13|
|4||Low energy lighting||2|
|5||Insulating hot water cylinder||8|
|7||Cavity wall insulation||13|
|8||Internal / external insulation of solid walls||20|
 For more information on Standard Assessment Procedure please see Government advice: https://www.gov.uk/guidance/standard-assessment-procedure