AIB has made a significant move to incentivize eco-friendly home construction by introducing discounted green mortgages for builders in Ireland. This initiative aims to promote energy-efficient housing, with lower interest rates offered to those adhering to specific standards, including Nearly Zero Energy Building (nZEB) criteria.
Under the new scheme, individuals constructing their own homes or undertaking substantial renovations must meet stringent energy efficiency benchmarks, ensuring a Building Energy Rating (BER) of A2 or better upon completion. For renovations, a B2 rating or higher is required.
AIB’s green mortgages are touted as some of the most competitive in the market, with recent interest rate cuts of 0.2%. Moreover, the bank has sweetened the deal for mortgage switchers, increasing benefits by 50% to a maximum of €3,000 for those transitioning to AIB, Haven, or EBS, all part of the AIB Group.