Digital bank Tandem has launched a new green product feature to its second charge mortgage product.
Tandem’s new second charge mortgage feature will offer a ‘green discount’ on new second charge mortgages, operated under its Oplo brand, offering a rate reduction of up to 0.5 percentage points for new customers with an EPC rating of A, B or C.
The bank’s recent research shows that over a quarter of Brits are unaware, uninformed, unwilling or unsupported on how to approach greener living. With this in mind, Tandem also plans to launch ‘Greener in Tandem’, a series of initiatives and information to support customers understand their home’s current emissions, as well as what, where and how they can help reduce it.
Following its acquisition of Oplo in January 2022, Tandem has been working to broaden and develop its product offering across a range of consumer lending products, including first and second charge mortgages.
Steve Beard, managing director for mortgages, said: “This is an exciting step for Tandem. Climate change is one of the most important issues we’re facing in society today. Our customers are increasingly worried about doing their part, and with 15% of carbon emissions coming from our homes, the time to act is now.
“Tandem is proud to play its role in supporting our customers make greener and fairer choices. Today’s launch is an exciting and important first step, and we hope to see customers doing more to improve their home’s EPC rating. This is the first step in our planned improvements for greener mortgages – we’ve lots more to do as we continue our mission to becoming the UK’s fairer, greener digital bank.”