Our Standard Variable Rate applies until we receive evidence that the Energy Standard rating required has been achieved and, if applicable, work has been completed. Once your renovation is complete, you need to provide a copy of the final Energy Performance Certificate (EPC).
A discount between 0.25% and 1.50% will apply to our Standard Variable Rate for every grade improvement in your home’s EPC rating and the discount will be applied to all your mortgage balance.
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When your project is complete our C-Change energy improvements discount applies
| Energy Standard | Energy Efficiency or Environmental Impact Rating | VR (Variable Rate) | Discount % | Variable Mortgage Rate |
|---|---|---|---|---|
| Energy Performance Certificate (EPC) | EPC rating improvement | 3.65% | 0.25% for each grade improvement in the EPC rating | 3.40%-2.15% The overall cost for comparison is 3.80% APRC |
When your build is complete
For us to apply the C-Change sustainable homes discount, once your build is complete you need to provide an Energy Standard certificate and Architect or Building Control certificate.
The C-Change sustainable homes discount is only applied to our Standard Variable Rate from the date we receive evidence that the work has been completed and the Energy Standard rating required has been achieved.
How we work out your Variable Mortgage Rate:
Standard Variable Rate (SVR) minus C-Change sustainable homes discount = Variable Mortgage Rate
C-Change discounts explained
As a building society with a unique mission to build a greener society, we lend on projects and properties that support our aims through their reduced impact on our environment. Making your home energy efficient is a major way you can support tackling climate change – while saving on your energy bills.
We reward borrowers whose properties are energy efficient (therefore have lower carbon emissions) with our C-Change discounts off our Standard Variable Rate which helps them save money on their mortgage. We call our discounts ‘C-Change discounts’ simply because we’re aiming to make a ‘sea-change’ of difference to our climate with each property or project we fund.
The level of our C-Change sustainable homes or C-Change retrofit discount that applies is based on the Energy Standard rating achieved on the self-build, renovation or conversion when the work is completed. Our C-Change energy improvements discount is based on the qualifying energy measures being installed. The discount is applied from the date we receive evidence that the work has been completed and if applicable the Energy Standard rating required has been achieved.
Joint account?
Joint account? You must each have your identity verified. However, both of you may rely on the same items from Table A and Table B if they are addressed to and clearly identify each of you.
Please note:
- Online statements or downloaded documents cannot be accepted under any circumstances
- Any documents produced must be current and issued within the last 12 months
- The identification provided must be from different organisations
All original documents will be returned to you when the account has been opened - Copy documents are not acceptable, except in the case of passports and driving licences, which must be certified (see below)
Copies of passports and driving licences must be certified by one of the following:
- Accountant
- Bank or building society official
- Doctor
- Minister of religion
- Mortgage or investment broker
- Solicitor
- Teacher
Certification: The document that is being certified must state ‘original seen‘ as well as being dated and signed. The document should also include the name of the certifier and full contact details. If the identification is photographic, the certifier must state that ‘the photograph is a good likeness of the applicant‘
For funds borrowed to install energy efficiency measures or renewable energy systems: C-Change energy improvements discount
The C-Change energy improvement scheme offers a discount of 1% on funds borrowed for qualifying energy measure installations (listed in the table below) and is applied once work is completed and evidenced by invoices. Please note the discount is applied to funds borrowed for energy improvement measures only and our Standard Variable Mortgage Rate will apply to the rest of the mortgage.
For example, if you borrow £150,000 and £50,000 is used for energy improvements, once all work is completed and evidenced, we would apply a 1% discount from our Standard Variable Rate to the £50,000 used for energy improvements and our Standard Variable Rate would apply to the rest of the mortgage.
| Energy improvement measures which can benefit from the discount | SVR (Standard Variable Rate) | Discount % applied to funds used for energy improvements | Variable Mortgage Rate |
|---|---|---|---|
| Floor, wall and roof insulation Double or triple glazing Wet underfloor heating systems High efficiency condensing boilers Solar water heating Photovoltaics Wind turbines Ground source heat pumps Biomass heating Heat recovery systems Low water-use appliances Rain water harvesting | 4.15% | 1.00% applied on funds borrowed for qualifying energy improvement works (see C-Change energy improvement checklist) | 3.15% The overall cost for comparison is 4.30% APRC (Our 4.15% Standard Variable Mortgage Rate will apply to the rest of the mortgage) |
For homes needing extensive renovations / energy efficiency improvements: C-Change retrofit discount
The C-Change retrofit scheme offers a discount of 0.25% from our Variable Rate (VR) for each rating improvement in your home’s Energy Performance Certificate (EPC). This could be either its Energy Efficiency or Environmental Impact rating – whichever is the highest.
For example, if either EPC rating improves from E to C after the works to the property are completed, a discount of 0.50% will be available on the whole of the mortgage, for the duration of the loan. The discounts are deducted from our Variable Rate (currently 6.29% – the overall cost for comparison is 6.50% APRC).
To apply the discount, we need to receive an EPC before you undertake works to your home and another EPC once works are completed. We will compare the revised EPC with the original rating, and apply the discount based on the grade improvement achieved. Until we have received your revised EPC, we will charge interest at our Variable Rate. You can find out more by downloading Our C-Change discount brochure.
| Energy Standard | Energy Efficiency or Environmental Impact Rating | VR (Variable Rate) | Discount % | Variable Mortgage Rate |
|---|---|---|---|---|
| Energy Performance Certificate (EPC) | EPC rating improvement | 6.29% | 0.25% for each grade improvement in the EPC rating | 6.04%-4.79%. The overall cost for comparison is 6.3% APRC |
| Passivhaus | EnerPHit or EnerPHit+1 | 6.29% | 1.25% | 5.04%. The overall cost for comparison is 5.2% APRC |
| Passivhaus | EnerPHit (PHPP Modelled) | 6.29% | 0.75% | 5.54%. The overall cost for comparison is 5.8% APRC |
| Association for Environment Conscious Building (AECB) | AECB CarbonLite Building Standard | 6.29% | 0.75% | 5.54%. The overall cost for comparison is 5.8% APRC |
Open an account for a young person (16-17 years old) or on behalf of a child
In a young person’s name (16-17 years old)
An account can be opened by a young person aged 16 or 17 with a cheque or a payment from an account in their name.
Alternatively, a parent or relative can provide:
- a cheque (drawn on their own personal current account);
- a bank or building society cheque (supported by an investment account statement from the relevant bank or building society); or
- a bank transfer from an account.
A covering letter must also be provided confirming the money is being given to the young person and how they are related.
We will need to verify the identity and address of the young person. For details of how this is done, please read the Savings account identification requirements leaflet.
On behalf of a child (as a trustee)
An account can be opened by a parent or relative as a trustee for a child of any age if the parent or relative makes an initial deposit from an account held in their name. Applicants (the parents or relatives) must each have their identity verified in accordance with the information provided in the Savings account identification requirements leaflet specified for individual’s identification requirements. The application should be accompanied by a Birth/Adoption certificate (original only), NHS Medical Card or National Insurance notification letter.
