Brokers may offer any of the three options to homeowner clients
Danske Bank, a lender in Northern Ireland, has launched a carbon neutral Help to Buy remortgage product range for homeowners who have availed of the government’s Help to Buy equity loan scheme.
Brokers may offer any of the three options to homeowners approaching the end of their existing mortgage deal or five-year interest-free period.
Applicants may remortgage and repay all the equity loan if they wish to exit the Help to Buy Scheme, remortgage their current property, and increase the loan amount to pay off the entire equity loan. Danske can facilitate these applications on their standard carbon neutral remortgage rates.
They may also apply to remortgage their current property and increase the loan amount to repay some of the equity loan, known as ‘staircasing’. The third option is applying to remortgage their existing mortgage and keeping the equity loan as it is. The bank can facilitate these applications on their carbon neutral remortgage Help to Buy range.
Danske Bank mortgages are available only through brokers registered with Mortgage Advice Bureau and for homes with an energy performance certificate of ‘A’ to ‘C’ in the East of England, South West, and South East, including London.
“When we made our Danske carbon neutral mortgage available in England a year ago, we said we would take a step-by-step approach to our product range,” Patrick Mullan (pictured), head of GB mortgages at Danske Bank UK, remarked. “Our Help to Buy remortgage options are the next step in this journey and in helping more customers on their journey to own more sustainable homes.”
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