Quantcast
Menu

Editor's Pick

New mortgages help homeowners boost their property’s energy efficiency

Christina Hoghton
Written By:
Christina Hoghton
Posted:
Updated:
31/01/2022

Skipton Building Society has launched the green deals to help borrowers reduce the carbon footprint of their home

Skipton Building Society has added two green additional borrowing products to help customers improve the energy efficiency of their homes.

This includes a two-year tracker product priced at 1.09 per cent, which is for existing residential customers and is available up to 90 per cent loan to value (LTV) for repayment mortgages and 80 per cent LTV for interest-only mortgages.

There is also a two-year tracker with a rate of 1.39 per cent for existing buy-to-let customers. It is available up to a maximum of 75 per cent LTV.

Both come with no fee, no early repayment changes and the typical affordability assessment for additional borrowing applies.

Borrowers can access between £5,000 to £50,000, and at least half of the loan amount has to be utilised for green home improvements.

This could include insulation, new windows or doors, installing biomass boilers and using air source or ground source heat pumps.

Jennifer Lloyd, senior mortgage product manager at Skipton Building Society, said: “We’re thrilled to be launching these new products, as we all work towards reducing our carbon footprint and building a greener future together.”

The products are also in line with the Green Finance Institute’s green home finance principles, which provides methodology to help firms allocate financial proceeds to purchase, retrofit, or self-build construction of domestic buildings.