Green mortgages offer cheaper interest rates to borrowers who buy more energy-efficient properties. There’s nothing green about the loan itself, it won’t reduce your carbon footprint, but these mortgages do give you a financial incentive to purchase an energy-efficient home. And that has environmental benefits.

As David Hollingworth, associate director for communications at mortgage broker L&C Mortgages explains, green mortgages are fast becoming a staple of high street lenders’ product ranges.

‘There has been an explosion in the range of green mortgages,” he says. “Many of the big mainstream lenders now have a version of their standard rates on offer with a green badge. Including Barclays, Halifax, Nationwide, NatWest and Virgin Money.’

What is a green mortgage and how does it work?

Green mortgages are typically based on the property’s Energy Performance Certificate (EPC). Every home sold must now be independently rated for its energy efficiency, scored from A at the top end down to G at the bottom.

Nick Mendes, mortgage technical manager at broker John Charcol explains: ‘A green mortgage – sometimes referred to as an eco-mortgage – is a mortgage where you get a discounted interest rate and/or cashback if your home has an EPC rating of A or B, or your buy-to-let property has an EPC rating of C or above.’

The discount could be around 0.1 percentage points below non-green mortgage rates, while cashback offers can be between £350 and £999, he adds.

Image credit: Future PLC/ Brent Darby

What is the eligibility criteria for a green mortgage?

The average EPC rate for property in the UK is D. This means that to qualify for a green mortgage you will most likely – but not always – need to be buying a new build home.

By law, new builds must be constructed with energy efficiency measures incorporated, unlike older houses that may be poorly insulated and rely on old-fashioned heating systems.

Most lenders don’t exclude older properties from green mortgages, but their requirement for an EPC rating of A or B will rule out large chunks of the market.

Can I get a green mortgage on my existing home?

Many environmentally-minded owners of older houses would like to make their homes more energy efficient – and even if sustainability is not your priority, these measures can reduce your bills and help to keep your house warm. The good news is there are now some green loans aimed at this market too.

Hollingworth says: ‘Lenders have recognised that existing properties will need to be improved as well and that their owners will need funds to help make those changes. Whether it’s installing insulation, double-glazing or a new, more efficient boiler.’

Nationwide Building Society, TSB and Skipton Building Society are among lenders that offer special rates on additional borrowing for borrowers making improvements to their home’s energy efficiency.

To take advantage of the Nationwide offer, for example, you need to already have a mortgage with the building society and agree to spend at least 50% of the money you borrow on energy-efficient projects. This could be anything from cavity wall insulation or new windows, to solar panels, small scale wind turbines, ground source heat pumps and electric car charging points.

Alternatively, specialist lender Kensington and the Saffron Building Society have taken a different tack, offering retrofit mortgages. This is where people moving home are incentivised to improve their home’s energy efficiency once they have moved in.

Kensington, for example, offers £1,000 cashback to borrowers who manage to improve their home’s energy efficiency within 12 months of their mortgage completion. Saffron rewards borrowers who make green home improvements during the first six months with a reduction to their mortgage rate.

Incentives like this can be particularly helpful if you have purchased an older or period property which is likely to have plenty of scope for improvement.

Do green mortgages save money?

With numerous lenders now offering cheaper deals to buyers of greener homes, there are some attractive mortgages available. But the rest of the mortgage market is competitive too; you may be able to find an even cheaper deal on ‘non-green’ terms.

Image credit: Polly Eltes/Future PLC

Hollingworth says: ‘It does make sense to shop around and not just head straight for a deal that has a green sticker applied. Those looking to make improvements should also consider if a standard product will be cheaper for them which would only help make their project more affordable.’

Still, over time, both new buyers and homeowners can expect to see more incentives from lenders to buy energy-efficient homes. Or to make improvements to their existing property.

Is a green mortgage a good idea?

The homes in which we live currently account for 22% of the UK’s carbon emissions according to the Royal Institute of Chartered Surveyors (RICs). The government has set an ambitious target to make sure all UK homes have an EPC of C or above by 2035.

The Department for Business, Energy and Industrial Strategy has also said that lenders can play a significant role in improving the energy efficiency of the UK’s homes.

‘We will certainly see a time when green mortgages become more competitive,’ says Mendes. ‘With a two-tier system of green and non-green mortgages.’

One area he thinks lenders will also start to focus on more is the remortgage market. Although some lenders offer green remortgages now, numbers are limited. ‘If you are able to show that you have improved your EPC during the time that you have lived in the property you could become eligible for a better rate when you remortgage.’

He adds: ‘You may also be able to borrow more with a better EPC rating.’

Hollingworth agrees. ‘Energy efficient homes aren’t just better for the environment; a big plus is that they are also cheaper to heat and run. It could even be possible for lenders to consider how the lower running costs of an energy efficient home could help homebuyers meet the affordability requirements,’ he adds.

That’s a win-win situation. It could mean cheaper and more flexible lending deals for borrowers investing in measures that also have environmental benefits.

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Preparing yourself for house price negotiation when looking to buy a new property has never been more important. Still, it’s a delicate balance. Do you offer more to secure your purchase? Or do you take a risk, knowing you could lose your ideal property?

The truth is that negotiation is an art rather than a science. But our tips will give you a better chance of getting a great deal when it comes to buying a house.

Know your market before you negotiate a house price

If you understand the property market where you’re looking to buy, you’ll be better armed to negotiate. Research local agents to check the price of comparable properties. Websites such as Rightmove can help you check the price that properties have actually sold for, rather than the asking price.

Estate agents work for the seller, not the buyer, but they can still be useful sources of intelligence.

James Andrews, Senior Personal Finance Editor at money.co.uk, agrees: ‘One of the key aspects of how to negotiate house price discounts is demand. If there has not been much interest, you can comfortably offer a lower bid when you start negotiating.’

‘Check property websites to also find out when the property was first listed for sale, and ask the agent how many offers it has had since then. The longer that the owner has been waiting to sell could mean that they are more willing to lower their asking price. If the property has had lots of viewings but no offers, ask the estate agent about why and use this knowledge to your advantage.’

Image credit: Future PLC/ Colin Poole

Expect initial knockback

Ben Rowlands, from Lancashire, bought his first house at 33, and has since climbed the ladder with purchases of five properties around the North West. He says that if you can mentally prepare for rejection and persevere, you have a good chance of success.

‘I wasn’t desperate to get the prices down”, Ben explains. “I would have paid the asking price. But I’ve found that if you can expect rejection without getting disheartened, then you can really get somewhere.’

‘The trick is patience – people are often in a hurry. Be strong and hold your position, but also don’t set your heart on one property just in case.”

Start low

Ben bought his latest property in Todmorden, West Yorkshire in 2019. He managed to get the price down from £80,000 to £70,000 by putting in a much lower offer and ‘working up’.

He explains: ‘There’s no point offering 5% off and getting it accepted straight away. Start with 25% off the asking price and expect to be knocked back. Of course there’s always a risk. Ultimately it’s a matter of trying your luck, but it’s worth it when you’re talking thousands of pounds!.’

Check for ‘big ticket’ items

There are also more specific tips to help you negotiate. One is to search the property for ‘big ticket items’ like the boiler, electrics, and windows. You can reasonably lower your offer if they’re not in perfect working order.

‘Although it’s easy to get swept up in the excitement of a new property and the ‘love at first sight’ mentality, you should also view the property thoroughly and look out for any work that needs doing;” says James. “This is an opportunity to knock more money off the asking price. Estimate the cost of any work required and take this amount off your offer price.’

You can also check out our handy guides on how much a replacement boiler costs or how much double glazing costs to get an idea of how much to knock off the asking price.

Play to your strengths

Some buyers are especially in demand with sellers. For example, if you’re not dependent on selling your existing property to purchase a new one, make that clear during your negotiations. You may be a better bet than a buyer offering a bit more cash but stuck in a long chain.

James continues: ‘Make sure you have a mortgage in principle before you embark on your property search, as this will likely lead estate agents and sellers to take you more seriously. Often a seller is more likely to accept your offer than one from someone without a mortgage in principle, so this helps your bargaining position massively.’

‘If you’re chain free or ready to move fast this is a huge advantage to a buyer, as it means they can be confident about their purchase too.’

There may even be scope to make a personal connection with the seller. Is your family dynamic similar to theirs – can you make them identify with you?

Image credit: Future PLC

Avoid disappointment

Successful movement on your house price also comes from knowing what not to do.

It’s best to avoid:

• Setting your heart on a single property
• Letting sellers know your maximum budget
• Letting the fear of failure stop you from trying

Hannah Bashford, from Model Financial Solutions Limited, says there’s less space for house price negotiation in today’s seller’s market. Although it shouldn’t put you off entirely, it should be considered when you’re deciding how far you should haggle.

She says: ‘Most people expect to put in an offer and have to revise it, but in the current market, there’s so much demand that estate agents often ask for ‘best and final offers’ by a certain date. In cases like this, there isn’t much room for negotiation.’

James Andrews, echoes this sentiment: ‘Most importantly of all, be prepared to walk away. There will always be another home to buy, and new properties come onto the market every week. The power is always, ultimately, with the buyer – no matter how it feels sometimes.’

With thanks to David Prosser for his contributions to this article.

The post House price negotiation – the dos and don’t of haggling appeared first on Ideal Home.

Warmer weather means that we’ll soon be spending more time out and about in our gardens, so sprucing up outdoor spaces is a top priority. If garden furniture is looking past its best and needs replacing, there are plenty of easy DIY outdoor furniture ideas that are worth a try and won’t cost a fortune to put together.

Repurposing something unused or unloved, or using recycled materials to create a new piece, is far kinder to the environment than buying new and can save you money too. Plus there’s the joy of knowing that you’ve created something yourself and have a unique one-off item rather than something that’s mass produced.

DIY outdoor furniture ideas

If it’s your first attempt at making your own DIY outdoor furniture, then start small and attempt an easy make that doesn’t require any expert carpentry skills first. Repurposing existing pieces or revamping an item with paint or new upholstery shouldn’t be too tricky to do, and as your skills get better and confidence grows, you can attempt trickier projects.

Using recycled materials, such as reclaimed timber, old wooden pallets and scaffolding boards is a brilliant way of preventing waste and keeping costs down. While making use of any leftover paints, wood stains, fabric remnants and trims will cost nothing and is more eco-friendly than throwing unused materials away.

1. Use pallets to make simple garden seating

Image credit: Future PLC/Jonathan Jones

Put together a relaxed seating arrangement for a patio or deck using a salvaged wooden pallet idea. As with any project that uses salvaged wood, check the wood thoroughly first to make sure that there are no protruding nails or staples and give the surface a light sanding over to get rid of any rough edges and wood splinters.

Creating a simple outdoor bench like this one is super-easy to do. You’ll need three pallets of roughly the same size. Start by stacking two pallets, one on top of the other, to form your base and use a drill and screws to secure them together. Use the third pallet, propped in a vertical position to create the back of your bench, securing it in place with the drill and screws.

Style your pallet seating by painting it with a colourful wood finish or try a natural wood stain for a more rustic look. Then simply add cushions and throws to make it super-comfy.

2. Tackle an easy garden coffee table

Image credit: Sadolin

Requiring the minimum of DIY skills, this outdoor coffee table is pretty simple to put together using a couple of old wooden pallets. Perfect for a grassy area, its low level makes it ideal for a picnic table with the addition of a couple of comfy floor cushions.

Use two wooden pallets to give this coffee table set-up a little extra height. Simply secure the two pallets with a couple of screws on each of the four sides. To give the coffee table more moveability, consider adding castors underneath. You’ll need to attach a castor on to each corner, but it’s well worth doing as it will allow you to shift the table around more easily.

3. Build your own corner seating set-up

Image credit: Future PLC/Colin Poole

Building your own outdoor seating using reclaimed timber is a great way of cutting costs and also allows you to tailor the arrangement perfectly to suit the size and layout of your outdoor space. While it’s not a project for a novice, it should be a fairly simple build for a competent DIYer to put together.

A corner arrangement like this makes great use of space in a small garden and creates a sociable layout positioned around a coffee table or fire pit. Including lift-up seats with space underneath for storage will also give somewhere to stash garden cushions and throws when they’re not in use.

4. Make colourful garden cubbies from old crates

Image credit: Pelargoniums for Europe

Find a new use for old wooden fruit crates by making mini wall shelves for a patio area or inside a potting shed. Paint crates in cheery colours, using exterior garden paint to give a weatherproof finish. Secure crates to the wall using wooden battens on the reverse, or add a couple of wall brackets if you intend to stow weightier items inside.

Smaller-sized crates like these are great for displaying planters or garden bric-a-brac and look effective in mini groupings on a wall. Alternatively for something more robust, use large wooden wine crates to create a bigger arrangement, securing them onto wall brackets for extra stability.

5. Spruce up a shabby table with smart stripes

Image credit: Future PLC/Lizzie Orme

If your wooden garden table has seen better days, instead of replacing it, try an easy pick-me-up and give it a fresh lick of paint. Painting a panel of contrast stripes to run along the centre will create the look of a table runner and is an easy way of adding more of a decorative twist.

Give the table’s surface a light sanding and wipe down before you start painting. Then give the whole table a couple of coats of white paint, using an exterior paint for a weatherproof finish. Once dry, use small tester pots of paint in contrast colours to create the striped runner effect. Use masking tape to help create the stripes and give a neater edge.

6. Create outdoor shelving using recycled timber

Image credit: Little Greene

Brighten up a dreary exterior wall by creating a display area for plants and garden ornaments. Reclaimed scaffold boards are a sturdy, all-weather option for an outdoor space and will add a rustic look to a patio dining or seating area.

Add extra wow to your wall with a creative garden paint idea by painting it a bold, standout colour. Greenery and shelving will pop against vibrant shades of blue or dark green and will bring the whole space to life. Arrange scaffold-board shelving at staggered heights and fill the space with a mix of plants and planters in assorted shapes and sizes.

7. Make your own garden cocktail bar

Image credit: Wayfair

Opt for a garden bar on a budget by upcycling an old potting bench to create a fun outdoor drinks station. Shelves underneath give plentiful storage for drinks supplies and glasses, while a row of drawers gives a handy place to stash utensils and cocktail making kit.

Use exterior paint in a bright, cheery shade to give your bar a touch of the tropics. Try tiling the work surface or cladding it in a sheet of stainless steel to give a practical, wipe-clean prep space for cocktail-making duties.

8. Repurpose an old step ladder

Image credit: Future PLC/Colin Poole

Make a vintage-style display stand for the patio by upcycling an old wooden step ladder. Use assorted lengths of timber scaffold boards to create the shelves and you’ll have a lovely, rustic showcase for displaying garden plants and flowers.

Start by giving your ladder a quick scrub and sanding it down to remove any rough edges and splinters. Then add shelves, using different lengths of board in increasing sizes, screwing them onto the ladder’s rungs to secure. Leave the wood in its natural state for a worn, weathered vibe or add some colour by painting the ladder and shelves in a bright outdoor paint if you’d prefer something livelier.

9. Make an easy outdoor mirror

Image credit: Cuprinol

Adding a garden mirror idea is an easy way of brightening up a small outside space or enclosed area. A mirror will help to bounce incoming light around and make the space feel sunnier and more spacious.

Try making your own window-pane style mirror using a simple frameless mirror and a piece of garden trellis. Start by cutting your trellis to size using a small hand saw. Then use a paintbrush or small roller to paint trellis with a couple of coats of exterior paint. Once dry, use grab adhesive to stick the trellis onto the front of your mirror. Leave to dry and then secure to an outdoor wall or fence panel.

10. Make a display stand out of an old drawer

Image credit: Pelargoniums for Europe

Find a new use for an out-of-action chest of drawers by using individual drawers to make colourful wooden planters. Try mounting a slimline drawer on brackets to create a fun wall display, or alternatively use the base of an old table, chair or suitcase stand to make a quirky raised planter.

Use exterior paint to spruce up your drawers in a cheery colour. Before painting, drill a couple of holes in the base to provide drainage for plants and line drawers with plastic membrane to protect the wood from rotting.

11. Set up your own DIY outdoor kitchen

Image credit: Cuprinol

Make a kitchen work station to sit alongside your outdoor barbecue area so that all your cooking essentials are close to hand. Use a couple of slatted fence panels to act as the backdrop for your kitchen. It will help to keep the set-up contained and the slats provide a useful surface for hanging utensils and chopping boards.

Finish off your kitchen with an outdoor table or bench to act as an outdoor prep space. Fix shelves on the timber panels so you’ll have storage for cooking oils and condiments and stand a couple of wooden crates and baskets underneath for bulkier cookware, pans and grills.

12. Make rustic outdoor floor lamps

Image credit: Cuprinol

Make your own floor lamps as a quirky finishing touch to your outdoor kitchen (see them in full above). The rustic timber posts are perfect for stringing outdoor festoon lights on and are an easy way of adding extra illumination if your patio lacks a lighting source.

Start by finding a couple of sturdy wooden logs, tall enough to hang lights on. You’ll need a couple of terracotta pots to stand the logs in, filled with quick-drying cement that will keep them firmly held in place. Once the cement is dry, paint the lower section of logs to match your pots, screw in a couple of hooks at the top and use these to suspend your lights from.

What can I use for outdoor furniture?

Pallet wood has become increasingly popular for garden projects as it is often free and readily available. While wooden pallets are designed to be stored outside when in use for packaging and shipping, the wood isn’t treated for long-term outdoor exposure, so will need weather-proofing if pallet furniture is to be left outdoors all season long. Use a timber stain or varnish if you want the wood to retain its rustic look, or alternatively try exterior paint if you’d prefer a splash of bolder colour.

Pallet wood can often be dirty and stained, so should be thoroughly cleaned before use. Loose staples and protruding nails are also a problem and can be quite sharp, so check over any wood fist, removing these to make it safe. It’s also worth giving the surface a light sanding to get rid of any rough patches and splintered wood.

How do I make my patio furniture look good?

Protecting outdoor furniture from the elements is the best way of keeping it looking tip-top. While weather-proofing treatments will protect outdoor timber from rain and sun damage, it’s inevitable that after a long summer spent outdoors, furniture will end up looking past its best.

Investing in outdoor covers is an easy way of protecting outdoor seating, with covers easy to zip on or off when the weather is inclement. Removable cushions are a good idea too as they can be popped away in the shed or a storage chest when there’s a shower. Opt for zippable covers that can be machine washed or water-repellent and mildew-resistant fabrics so that they’ll stay looking good for longer.

Clean garden furniture regularly to keep it looking its best. Bring out the vacuum if you have woven furniture, which will help to remove dirt and dust that’s trapped in the weave. Use a stiff brush to clean wooden furniture and then wipe down with a damp, soapy cloth. Avoid using a jet washer on wood as it can make wood swell and loosen the joints.

The post DIY outdoor furniture ideas – get creative with clever makes and easy upcycling appeared first on Ideal Home.