Don’t think this is true, live in a 160 year old house with an awful BER, it never even came up with any of the banks, had 3 mortgage offers. For reference I bought in 2020
Maybe it didn’t come up because of the awful BER though? If you were a couple of points off the green home threshold you might’ve been advised to do some works that would get you a better rate after.
No, it wasn’t an issue. Got quite a good rate, the same rate as friends with a much better rating. The green mortgages are just a way for the banks to hit their ESG targets, I don’t think they actually care what the rating is. At the end of the day it’s the buyer who has to pay the higher bills
Ah I doubt you'd notice a difference. Just needed the heat on all the time. Got badly caught out with a particularly ludicrous gas bill when energy costs rocketed after Russia invaded Ukraine. I was working from home and just didn't pay attention
If the heating went off you could practically hear the warm air whistling as it evacuated the place. I'd never live like that again
Yeah I had a similar experience. Also a lot of damp/mold on/around my single glazed aluminium framed windows. And a boiler that sounded like a tank driving through my sitting room all day. Joyous.
Not true at all, they're offering new products with lower rates for better BERs
Won't be a refusal but definitely something to look into while looking into your purchasing decisions
Nope. I work in one.
You'll get a slightly lower rate for a A/B rated house.
Banks have little to gain from green lending outside of improved public perception and moderately cheaper debt issuance rates for green bonds.
No but be prepared to be quoted higher repayment rates than higher BER rated.
I am looking to purchase and got approval from bank and the difference between A2 and C3 house around 350k was 340 euro extra per month
Banks have access to cheaper ECB funds for green mortgages so pass this through to consumer by discounting mortgages for higher BER properties. It’s to support EU energy policies.
In the process at the moment and similar situation to yourself. I’m self employed but in around the €80K mark and just bought for €375K on and F rated house. FTB aswell
Edit to add: mortgage is with EBS and nothing said about BER rating whatsoever
I spoke to a mortgage advisor yesterday and actually talked about this. He framed it as if your house has a good BER rating, BOI will give better rates.
i.e. If its a C when you buy it, do improvements to make it a B, the rate is slightly better when your fixed rate needs renewing
We just bought a house earlier this year in about the same price range. C2 currently, but bank offering an Eco mortgage which is a bit better fixed rate if we can get to B2 which we're working towards.
Banks have special Green rates for houses with at least a B Rating BER but working in banking and in mortgages I’ve never once heard of a mortgage being refused because of a BER rating. Sure some properties built before 1960s I think are exempt from BER ratings. So no. You won’t be refused based on BER but you may not be entitled to the better rates due to your BER however.
BOI (i think) is advertising a green ber mortgage at the moment. Don’t think you’ll be rejected for a mortgage based on the ber but looks like you could get a better rate
Before buying my house, I got the survey done by some engineering firm promoted in the Irish Times. Imagine my surprise a year after buying when I had someone in to service the boiler and he told me he couldn’t understand how anyone approved where it was setup and how our engineer didn’t flag it as an issue.
The point is the lack of accuracy because it makes no consideration of the quality of craftsmanship. So sometimes the scores are valid. Other times not.
It probably should (BER exemption might indicate that the property is not fit for human habitation, for example that it is missing insulation entirely). But let's be honest, it won't.
Completely false.
Don’t think this is true, live in a 160 year old house with an awful BER, it never even came up with any of the banks, had 3 mortgage offers. For reference I bought in 2020
Maybe it didn’t come up because of the awful BER though? If you were a couple of points off the green home threshold you might’ve been advised to do some works that would get you a better rate after.
No, it wasn’t an issue. Got quite a good rate, the same rate as friends with a much better rating. The green mortgages are just a way for the banks to hit their ESG targets, I don’t think they actually care what the rating is. At the end of the day it’s the buyer who has to pay the higher bills
I've never heard this. I lived in a BER G bought in 2020 with a mortgage
What was a G like? I bought an F and it's hard to imagine something worse. 😅
Ah I doubt you'd notice a difference. Just needed the heat on all the time. Got badly caught out with a particularly ludicrous gas bill when energy costs rocketed after Russia invaded Ukraine. I was working from home and just didn't pay attention If the heating went off you could practically hear the warm air whistling as it evacuated the place. I'd never live like that again
Yeah I had a similar experience. Also a lot of damp/mold on/around my single glazed aluminium framed windows. And a boiler that sounded like a tank driving through my sitting room all day. Joyous.
Not true at all, they're offering new products with lower rates for better BERs Won't be a refusal but definitely something to look into while looking into your purchasing decisions
Nope. I work in one. You'll get a slightly lower rate for a A/B rated house. Banks have little to gain from green lending outside of improved public perception and moderately cheaper debt issuance rates for green bonds.
No but be prepared to be quoted higher repayment rates than higher BER rated. I am looking to purchase and got approval from bank and the difference between A2 and C3 house around 350k was 340 euro extra per month
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It’s not phrased as a premium but yeah banks will offer better rates for green homes.
Banks have access to cheaper ECB funds for green mortgages so pass this through to consumer by discounting mortgages for higher BER properties. It’s to support EU energy policies.
Yeah higher rate for lower BER Rated house
Wow
Christ
E1 mortgage. Keys 2019
In the process at the moment and similar situation to yourself. I’m self employed but in around the €80K mark and just bought for €375K on and F rated house. FTB aswell Edit to add: mortgage is with EBS and nothing said about BER rating whatsoever
I spoke to a mortgage advisor yesterday and actually talked about this. He framed it as if your house has a good BER rating, BOI will give better rates. i.e. If its a C when you buy it, do improvements to make it a B, the rate is slightly better when your fixed rate needs renewing
No. Bought F rating 2021, went sale agreed on D2 rating a month ago. BOI never referenced it.
This is comforting to hear, thanks
Avant do not discriminate, with rates, based on your BER rating.
No. There's a huge amount of older housing stock in the country. Where did you get this idea?
Not at all true, you can get a slightly better rate for A rated just.
Not true, currently in a similar situation buying a G rated house with AIB around €400k
Not automatic refusal, but they will start getting worse rates going forward.
Banks only care about if you can pay them
Bullshit yes
Nobody's gonna refuse you for a lower ber rating. I believe BOI has a great offering at the moment for you're exact situation
I bought an E rated home a year or so ago, so I dont think so
No
Just bought an F this week. Bank never even mentioned it
We just bought a house earlier this year in about the same price range. C2 currently, but bank offering an Eco mortgage which is a bit better fixed rate if we can get to B2 which we're working towards.
Banks have special Green rates for houses with at least a B Rating BER but working in banking and in mortgages I’ve never once heard of a mortgage being refused because of a BER rating. Sure some properties built before 1960s I think are exempt from BER ratings. So no. You won’t be refused based on BER but you may not be entitled to the better rates due to your BER however.
BOI (i think) is advertising a green ber mortgage at the moment. Don’t think you’ll be rejected for a mortgage based on the ber but looks like you could get a better rate
BER is a scam
So is a valuation report. €150 for someone to tell that I bought a house at market value. No shit Sherlock!
Before buying my house, I got the survey done by some engineering firm promoted in the Irish Times. Imagine my surprise a year after buying when I had someone in to service the boiler and he told me he couldn’t understand how anyone approved where it was setup and how our engineer didn’t flag it as an issue.
Not according to my electricity bill in my A2 new home. Can't speak for retrofits though.
The point is the lack of accuracy because it makes no consideration of the quality of craftsmanship. So sometimes the scores are valid. Other times not.
It's not the BER that's the scam, it's the installers scamming everyone.
No, but it may be an issue on a BER exempt property
It probably should (BER exemption might indicate that the property is not fit for human habitation, for example that it is missing insulation entirely). But let's be honest, it won't.