THE EKO
CASHBACK MORTGAGE

The eKo Mortgage; the one where we’ll pay you £1,000 for improving your home’s energy efficiency

If we all switched from lightbulbs to LED’s we could reduce the UK’s carbon emissions by 430,000 tonnes each year!

IT'S TIME TO MAKE A CHANGE

A recent survey revealed that 9.7 million UK households haven’t made any changes to the way they use energy at home over the past few years.

73% of those surveyed were surprised to hear that British homes are responsible for a quarter of the UK’s carbon emissions.

It’s hard not to notice that concern for the environment is growing and many of us are looking at ways we can reduce our carbon footprint. That’s why we were inspired to create our green mortgage - the eKo £1,000 Cashback Mortgage.

WE'RE DOING OUR BIT,
TO HELP YOU DO YOUR BIT

Whether you’re looking to buy a new home or remortgage your existing one, it’s usually a time when you start to think about what home improvements you want to make. If better energy efficiency is top of your list, now might be the time to ask your adviser about our eKo Cashback Mortgage. 

All you have to do is improve the property’s existing energy efficiency rating by 10 Standard Assessment Procedure (SAP) points and send us a new Energy Performance Certificate (EPC) within 12 months of your mortgage completion date. If you’ve made all your mortgage payments on time and in full, we’ll pay you a lump sum of £1,000 into the bank account associated with your direct debit mortgage payments.

We’ll pay you £1,000 cashback when you improve your home’s energy efficiency rating by 10 points.†

BIG OR SMALL,
EACH STEP MAKES A DIFFERENCE

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 every time you make an improvement to your home that’s energy efficient you increase your SAP points. It could be as simple as changing your light bulbs to LED’s, installing a new boiler or getting loft and/or cavity wall insulation.

Hands watering growing plants on soil

We like to make things as clear as possible, so you’ll find everything you need to know below and in the tabs above:

  • Supply your mortgage adviser with a copy of the Energy Performance Certificate (EPC) for the property you’d like to buy or are remortgaging. Your mortgage adviser will then submit the EPC as part of your mortgage application.  
  • If you’re applying for a new mortgage, the EPC will form part of the Home Information Pack provided by the seller.
  • If you don’t have your EPC to hand, for properties in England, Wales and Northern Ireland, you can find a copy at www.epcregister.com, and for Scotland, please visit www.scottishepcregister.org.uk. You can retrieve your EPC by using a unique reference number or by using the property’s postcode.
  • The EPC will display the property’s current and potential rating.
  • If the property doesn’t have an EPC (EPC’s only became a legal requirement in 2008) or the existing EPC has expired (EPC’s expire after 10 years) you will need to pay for a new assessment on the property. The price of an EPC can be found when you contact an assessor. For properties in England, Wales and Northern Ireland, you can find details of assessors at www.epcregister.com and www.localsurveyorsdirect.co.uk. For properties in Scotland, please visit www.scottishepcregister.org.uk
  • The mortgage or remortgage is completed and if you’re moving home, you take ownership of the property.
  • Energy efficiency improvements to the property are made within 12 months of the mortgage completion date.
  • You’ll need to arrange and pay for a new Energy Performance Assessment  (EPA) to be undertaken on the property. The EPA will provide you with a new EPC which you will be able to use to determine how many SAP points you have after you have made your energy efficient home improvements.    
  • Send or email your new EPC to us no later than 12 months after your mortgage completion date to  generalenquiries@kensingtonmortgages.co.uk or by post to Kensington Mortgages, Ascot House, Maidenhead Office Park, Maidenhead, SL6 3QQ  
  • We verify the increase of 10 SAP points.  
  • £1,000 cashback will be paid directly into the bank account that we collect your active monthly Direct Debit from, as long as your mortgage account is up to date, with no missed payments since completion.

AN IMPORTANT TIP

Before you decide to talk to your mortgage adviser about our eKo £1,000 Cashback Mortgage, we suggest that you review the ‘Recommendations’ and if included, the ‘Further measures to achieve even higher standards’ sections of your current EPC. This will provide a good indication of whether any recommended energy efficiency measures are likely to result in a 10-point SAP increase.

What kind of home improvements can help me increase my SAP points?
You will find recommended energy efficiency improvements for the property on your existing EPC and the number of SAP points each measure accumulates.
I’m thinking about having solar panels fitted to my roof; is there anything I need to consider and do I need to ask your permission first?

If you plan to purchase solar panels outright and your property is freehold, you do not need to request consent from us.  However, if you would like to enter into a lease agreement with a solar panel firm you must request consent. Before we can give you consent to proceed, we will need confirmation that your request meets several requirements including, but not limited to, that your property is freehold and that the installation firm you plan to use is accredited by the Microgeneration Certification Scheme (MCS). 

Will I need a solicitor to review the solar panel lease agreement?

Yes. We will need you to instruct a solicitor (following completion and at your own expense) who is willing to act on behalf of you and Kensington. The solicitor will need to review the lease agreement and confirm that our minimum requirements for consent have been met.

What happens if the recommended energy efficiency improvements on my EPC don’t add up to 10 SAP points?

In this case, we would recommend you talk to your broker as another Kensington mortgage may be more suitable for you.

How can I find a copy of my Energy Performance Certificate (EPC)?
For properties in England, Wales and Northern Ireland, you can find a copy of your EPC online at www.epcregister.com using your postcode or unique reference number. For properties in Scotland, please visit www.scottishepcregister.org.uk.
What happens if the home I’m remortgaging or buying doesn’t have an EPC?

In that case, you’ll need to have a new EPC assessment undertaken to determine the home’s current energy performance rating. For properties in England, Wales and Northern Ireland, you can find an assessor by visiting www.epcregister.com or www.localsurveyorsdirect.co.uk. For properties in Scotland, please visit www.scottishepcregister.org.uk

What happens if the property’s existing EPC has expired?

You will need to have a new EPC assessment undertaken to determine the home’s current energy performance rating. For properties in England, Wales and Northern Ireland, you can find an assessor by visiting www.epcregister.com or  www.localsurveyorsdirect.co.uk

For properties in Scotland, please visit www.scottishepcregister.org.uk

How much will an EPC assessment cost?

The cost for an EPC assessment can vary depending on who the assessment company is and which area you live in. For properties in England, Wales and Northern Ireland, if you visit www.epcregister.com or  www.localsurveyorsdirect.co.uk you’ll be able to find an assessor. For properties in Scotland, please visit www.scottishepcregister.org.uk. When you contact your chosen assessor they will give you a cost.

Why do I need to supply you with a new EPC rating?

We’ll need to see what your EPC rating is before and after you make any home improvements that improve your energy efficiency SAP points so that we can verify that you have achieved an increase of 10 points. For example, if the SAP points shown on your EPC are 55 before you make any home improvements and your new EPC shows that they have increased to 65 after the improvements we will be able to verify that you have increased your SAP points by the required amount.

Where do I send my new EPC?
Once you have completed your energy efficient home improvements and have a new EPC, you can send it to us by email at generalenquiries@kensingtonmortgages.co.uk or by post at Kensington Mortgages, Ascot House, Maidenhead Office Park, Maidenhead, SL6 3QQ.
Is there a time limit for me to carry out the home improvements and send my new EPC to you?

Yes, you have 12 months from the date of your mortgage completion to make any home improvements and send a new EPC to us.

How long will it take for you to verify my SAP points increase?

We ask that you allow 28 days for us to verify your SAP points increase. 

What happens after I have submitted my new EPC to you?

We’ll write to you to let you know the outcome of the review of your new EPC and SAP points.

How long after you have verified my SAP points increase will it take for me to be paid the cashback?

We’ll pay the £1,000 cashback into the bank account your active Direct Debit is collected from within 5-10 working days. 

Are there any instances where I won’t be paid my cashback?

To be eligible for your cashback, you must make your claim within 12 months of completion and your mortgage account will need to be up to date, with all monthly payments having been made on time and in full.  You will also need to have an active Direct Debit in place. 

What happens if my SAP points increase isn’t verified?

If we are unable to verify your SAP points increase we will write to you and let you know the reason why.

If you can’t verify my points increase, will I have another opportunity to increase them?

If you are still within 12 months of the completion date of your mortgage, you can make another application. 

HOW WE MAKE THINGS EASIER

  • Guide to the mortgage process
    Our helpful guide takes you through the mortgage process from start to finish, so you'll know what to expect at every stage.
    THE APPLICATION PROCESS
  • Before you apply
    We’ve put together a helpful list of some of the key things you and your adviser will need to consider before your adviser submits your application for a Kensington mortgage.
    GET MORTGAGE READY
  • Why choose Kensington
    As a specialist mortgage lender, we know that no two people or their circumstances are the same. That's why we've always celebrated differences.
    THE KENSINGTON DIFFERENCE
  • Getting advice and help
    How to get the advice and help you need to find the mortgage that may be suitable for your circumstances.
    GETTING MORTGAGE ADVICE

    WHAT OUR CUSTOMERS SAY

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    † Subject to product terms and conditions
    ‡ Source: gov.uk