Zero bills mortgage from Octopus and Perenna

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Octopus Energy and Perenna have launched the world’s first zero bills mortgage.

Zero Bills is an initiative created by Octopus that allows customers to move into homes that are kitted out with green energy technology, such as heat pumps and solar PV, and with no energy bills for at least ten years.

Perenna is the first bank to factor the value of this initiative into its affordability calculations. The Zero Bills mortgage offers a lower rate than Perenna’s standard mortgages, rewarding customers for buying a sustainable home.

Perenna will give potential homeowners much greater purchasing power, reducing the deposit needed and driving down the barriers to buying greener homes.

Octopus Energy has already accredited over 1,000 homes across the UK through contracts with developers and housing providers. Accredited plots span a range of tenure types, including private and shared ownership, as well as affordable and social rent.

It plans to deliver 50,000 ‘Zero Bills’ homes globally by the end of 2025.

Michael Cottrell, Zero Bills Homes Director at Octopus Energy, said:

Our ‘Zero Bills’ homes guarantee no energy bills for 10 years. We’re delighted that Perenna is the first bank to acknowledge the value of green tech by offering a lower interest rate to ‘Zero Bills’ customers compared with their standard mortgages. And we’ll keep innovating and partnering with like-minded companies to further speed up the move towards affordable, cleaner living.

Arjan Verbeek, Co-founder and Chief Executive Officer at Perenna, said:

Decarbonising UK homes is a massive challenge and requires collaboration. We’re glad to partner with Octopus Energy who want to solve structural issues and take ambitious steps to deliver them. The ‘Zero Bills’ initiative is a testament to how forward-thinking Octopus Energy is. We can’t wait to unlock ‘Zero Bills’ homes for more people through our innovative mortgage offer.

Octopus Energy’s Greg Jackson is speaking at InstallerSHOW on 27 June. The show runs 25 to 27 June at the NEC. Register for FREE tickets here: installer-2024-splash.reg.buzz