Virgin Money is introducing a new environmentally friendly reward scheme for existing residential and buy-to-let mortgage customers.

The new scheme, Green Reward, will offer customers £250 cashback when they take additional borrowing to make green home improvements, encouraging them to make sustainable choices that reduce their impact on the environment.

Green Reward is available to all existing Virgin Money mortgage customers who take additional mortgage borrowing, either as stand-alone borrowing or as part of a mortgage product transfer. 

Green Reward follows the launch of Virgin Money’s Greener Mortgages product in 2021 which rewards customers who buy new-build homes, which have an Energy Performance Certificate (EPC) or Predicated Energy Assessment (PEA) rating of A or B, with a lower mortgage rate.

Richard Walker, head of intermediary sales at Virgin Money said: “At Virgin Money we want to help build a brighter future, and we’re especially passionate about helping customers to go green.

“Green Reward not only gives customers the chance to take a greener path and ultimately reduce emissions, but it can also help reduce heating bills at a time when we we’re all looking to beat the squeeze.”