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CIBC introduces Enviro-Saver mortgage

Canadian Imperial Bank of Commerce has launched new Enviro-Saver mortgage, which is claimed to give Canadians an opportunity to improve the energy efficiency of their homes, benefit the environment and generate cost savings for clients by reducing their household utility bills.

As part of the plan, an audit will identify how the client’s home uses energy and which improvements would offer the maximum increase in their home’s energy efficiency, leading to both lower energy consumption and lower utility costs over the long term. Government grants may also be available to clients for some of their energy efficient upgrades.

Raza Hasan, senior vice-president for mortgages and lending at Canadian Imperial Bank of Commerce (CIBC) retail markets, said: We recognize that many of our clients are increasingly aware of the impact they have on the environment, and are looking for ways to reduce their household energy consumption.

The CIBC Enviro-Saver mortgage offer meets this growing need by giving clients the information they need to make environmentally sound home improvement choices, and financing them at competitive rates.