Here's the lowdown on what you need to know…
Santander UK has introduced a new range of discounted rate mortgages for residential and buy-to-let customers remortgaging properties with an energy performance certificate (EPC) rating of ‘A’ or ‘B’.
The products are available exclusively through brokers and offer a 0.10% discount on standard remortgage rates for loans between 60% and 85% loan-to-value (LTV).
For residential customers, the new green mortgage options include a two-year fixed rate at 4.10% for 60% LTV with a £999 fee, a two-year fixed rate at 4.65% for 75% LTV with no fee, and a two-year fixed rate at 4.98% for 85% LTV with a £999 fee. Five-year fixed rates are also available at 3.81% for 60% LTV with a £999 fee, at 4.21% for 75% LTV with no fee, and at 4.45% for 85% LTV with a £999 fee.
For buy-to-let customers, the range includes a two-year fixed rate at 4.32% for 60% LTV with a £1,749 fee, and a two-year fixed rate at 4.98% for 75% LTV with no fee. The five-year fixes are offered at 3.97% for 60% LTV with a £1,749 fee, and at 4.39% for 75% LTV with no fee.
“We know the cost of making a property energy efficient can be a barrier to home improvements,” said Michael Taylor, head of green finance for homes at Santander UK. “But it can be a worthy spend, with homes in EPC bands ‘A’ and ‘B’ likely to cost less to heat and produce lower CO2 emissions. We’re pleased to be able to add to the financial benefits of owning an energy efficient home with our new range of mortgages.
“In addition, we have an existing range of measures for customers who are still on their energy efficiency improvement journey – with details of financing options, specialist suppliers and installation services, as well as access to a free Energy Performance Certificate review available on our website.”
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