The eKo Cashback Mortgage
The new eKo Mortgage; we’ll pay your clients £1,000 for improving their home’s energy efficiency
You may have seen the recent research by Citizens Advice and the Energy Savings Trust that revealed that 9.7 million UK households haven’t made any changes to the way they use energy at home in recent years*. Plus, 73% of those surveyed were surprised to hear that British homes are responsible for a quarter of the UK’s carbon emissions*. It’s stats like this that inspired the creation of our latest product – the £1,000 eKo Cashback Mortgage.
View Product Guide How it works
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Qualifying Criteria

Evidenced increase of at least 10 Standard Assessment Procedure (SAP) points required to qualify 

Up to 12 months to make the energy improvements and claim cashback reward 

£1000 cash paid upon qualification

LTV up to 85%

Select credit criteria applies

We want to help make existing UK homes fit for the future

With the UK Government’s target to reduce all carbon emissions to net zero by 2050*, experts are calling for more support and encouragement to help people reduce their carbon emissions, and our £1,000 eKo Cashback Mortgage is a simple way that we can support this initiative.

Our aim is to help make Britain’s existing housing stock more energy efficient, which is why it doesn’t matter if your client is buying a new home or remortgaging their existing one, we’ll pay them £1,000 for improving their energy efficiency rating by just 10 SAP points (Standard Assessment Procedure) which they can do by installing things like loft and/or cavity wall insulation.

All your client needs to do is make the energy efficiency improvements to their home and send us a new Energy Performance Certificate (EPC) within 12 months of their mortgage completion date. We’ll verify the 10 point SAP increase, and as long as their mortgage account is current with no missed payments since completion, we’ll pay £1,000 direct to their bank account.

 

Big or small, each step makes a difference

It doesn’t take much to make a difference. The Energy Savings Trust has found that 4 simple changes have the potential to save households £100 a year and help towards the UK reaching net zero emissions by 2050. For example, if all households switched from lightbulbs to LED’s we could reduce carbon emissions by 430,000 tonnes each year*. And it’s not just the environment that benefits from a home that’s more energy efficient, your clients could too:

  • Lower energy bills
  • A properly insulated home can be warmer in Winter and cooler in Summer
  • A potential increase in the value of their property

 

Help your clients to make a change

The £1,000 cashback is available on our eKo Cashback Mortgage range. Based on our Select credit criteria, 75%, 80% and 85% LTV products are available with the choice of 2 or 5-year fixed rates. eKo also comes with free valuations, and free legals on remortgages. To make things as easy as possible we’ve outlined how it all works below so you can explain the key points to your clients.

If you have any questions, your dedicated BDM or our Sales Support team will be able to help you. And don’t forget, for any specific lending criteria queries, our Lending Criteria Digital Assistant is available 24/7.

 

How our £1,000 eKo Cashback Mortgage works
  • Upload a copy of the property’s current Energy Performance Certificate (EPC) upon application. If your client doesn’t have it to hand, for properties in England and Wales a copy can be found at www.epcregister.com, and for Scotland please visit www.scottishepcregister.org.uk. The EPC will display the property’s current and potential rating.
  • For new mortgages an EPC will be provided as part of the Home Information Pack.
  • In remortgaging cases, if the property does not have an existing EPC on the EPC register, or the existing EPC has expired, your client will need to have an Energy Performance Assessment (EPA) carried out to determine the current energy rating.
  • Client completes mortgage and takes ownership of the property.
  • Client implements energy efficiency improvements to the property within 12 months of the completion date.
  • Client arranges and pays for a new EPA to be undertaken on the property. The cost of an EPA varies according to area. For properties in England and Wales, details of EPA assessors and an indication of prices can be found at www.epcregister.com and www.localsurveyorsdirect.co.uk. For properties in Scotland, please visit www.scottishepcregister.org.uk
  • Client posts or emails their new EPC to Kensington no later than 12 months after their mortgage completion date.
  • We verify the increase of 10 SAP points.
  • £1,000 cashback will be paid direct into your client’s bank account, as long as their mortgage account is current with no missed payments since completion.

 

Examples of what counts as an energy efficiency improvement

Your client’s EPC will include a range of energy efficiency improvements that could lead to an improvement in their SAP rating. We’ve used data from The Energy Saving Trust to show some of the most common home improvements along with the amount of energy efficiency points for recommended measure.

 

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

6

Loft insulation

10

7

Cavity wall insulation

13

8

Internal / external insulation of solid walls

20

9

Solar panels

10


How to spot your client's suitability for the eKo Cashback Mortgage

For your client to qualify, their Energy Performance Certificate needs to have a minimum 10 SAP point difference between its current rating and its potential rating, like on the examples below:


Important information for you to know
  • Before deciding if the eKo Cashback Mortgage is the right one to recommend to your client we suggest that you advise them to fully review the ‘Recommendations’ and if included, ‘Further measures to achieve even higher standards’ sections of their EPC. This will provide a good indication of whether any recommended energy efficiency measures are likely to result in a 10-point SAP increase.
  • SAP points contribute towards a home’s overall EPC which measures the energy efficiency rating on a scale of A to G, with A being the most efficient. Most UK homes are in bands D to E and making energy efficient changes such as installing loft and cavity wall insulation can increase SAP points.

 

*Source: www.gov.uk

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Kensington and Kensington Mortgages are trading names of Kensington Mortgage Company Limited (registered in England & Wales No. 03049877), which has its registered office address at: Ascot House, Maidenhead Office Park, Maidenhead SL6 3QQ.

Kensington Mortgage Company Limited is authorised and regulated by the Financial Conduct Authority (Firm Reference No. 310336). Some investment mortgage contracts are not regulated by the Financial Conduct Authority.