Uk News 'Green mortgages' offered by lenders to borrowers with promise of 'lower rates' United Kingdom news
PremierLeague-News.Com - Green mortgage deals promise lower rates to those whose homes have good energy efficiency ratings
PremierLeague-News.Com - Breaking Sport Transfer News ! Mortgage lenders are jumping on the climate change bandwagon at speed, with 26 “green mortgages” now available to borrowers.The deals promise lower mortgage rates to those whose homes have good energy efficiency ratings – typically a band A or B on the property’s energy performance certificate.Just 18 months ago and there were no home loans that offered borrowers a discount for improving their home’s carbon footprint. Today, it’s possible to secure a green mortgage from as little as 1.13 per cent fixed over two years from NatWest for those with 40 per cent equity in their home.Get financial advice and industry news, to you help manage your moneyEmail address is invalidThank you for subscribing!Sorry, there was a problem with your subscription.That compares to the cheapest ordinary two-year fixed rate at the same loan-to-value, which is 1.24 per cent available from First Direct.Some lenders also offer additional incentives, with specialist lender Foundation Home Loans offering borrowers £750 cashback, although its rates are higher than those featured in the best buy tables.
News source = PremierLeague-News.Com
. Paragon Bank now offers a broad range of green buy-to-let mortgages across both straightforward and complex rentals.Jeni Browne, director of Mortgages for Business, a broker specialising in buy-to-let, said: “Much of the UK’s ageing housing stock is very energy inefficient, making our homes a major source of greenhouse gas emissions. “At 14 per cent of the UK’s total emissions, housing has a greater carbon footprint than the farming industry and nearly as much as our shops and offices. We need a mass retrofitting programme on existing, inefficient properties in the private rented sector.”Research carried out by her firm suggests the majority of property investors, some 52 per cent, now think landlords must be part of the solution, with 62 per cent of landlords describing themselves as interested in these mortgages.Ms Browne added: “This year Britain enjoyed the greenest Easter on record, with almost 80 per cent of the energy used at lunchtime on Easter Sunday coming from zero-carbon sources such as solar and wind.“The housing market and private rented sector is in danger of falling behind the times unless we do our bit. It’s one way for the private rented sector to shine – and the only way to avoid a climate change own goal.”
Source = PremierLeague-News.Com