Ethical Banking Europe Fintech

Tandem Bank Bolsters Greener Banking Mission With Second Charge Mortgage

Tandem Bank has unveiled a new second charge mortgage as part of its mission to become ‘the UK’s fairer, greener digital bank’.

It has also revealed 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’s second charge mortgage feature offers a ‘green discount’ on new second charge mortgages, operated under its Oplo brand, which it acquired in January. The mortgage offers a rate reduction of up to 0.5 per cent for new customers with an EPC rating of A, B or C.

According to Tandem, banks can play a big part in supporting consumers to reduce their home’s carbon footprint. Its research shows that over a quarter of Brits are unaware, uninformed, unwilling or unsupported on how to approach greener living.

Steve Beard, managing director for mortgages at Tandem, 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 per cent 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.”

Tandem launched in 2014 and has offices in London, Blackpool, Cardiff, Durham and Manchester, employing more than 500 people.

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