Tandem Bank launches new greener products feature

Leading digital bank Tandem launches new green product feature as first initiative in the second charge mortgage market as it continues its mission to becoming the UK’s fairer, greener digital bank.

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% for new customers with an EPC rating of A, B or C.

Tandem believes strongly that banks can play a big part in supporting consumers to reduce their home’s carbon footprint. And with the UK Government estimating that on average every home in the UK will have to reduce 3.6 tonnes of carbon emissions by 2030 to keep us on track for hitting 2050 Net Zero targets, this is the first initiative in mortgages to support customers going ‘greener’.

Tandem’s recent research shows that over a quarter of Brits are unaware, uninformed, unwilling or unsupported on how to approach greener living. It’s clear we need increased awareness and support to help them tackle this important challenge. That’s why in the coming months, 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.

Tandem made it clear that its goal was to expand and develop its product range, starting with Oplo’s acquisition in January 2022.

Commenting on the launch Steve Beard is the Managing Director of Mortgages.:

“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 more worried about how they can help, with 15% of carbon emissions coming directly from their homes. Now is the time to do something.

“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 become the UK’s fairer, greener digital bank.”

EPC Home Rating DNew customers get a discounted iscount rate
A 0.50%
B 0.30%
C 0.20%
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