Landbay introduces green mortgage range

Landbay has launched its first green mortgage range.

All green products offer a 0.1 or 0.05 percentage point reduction against their non-green counterparts, depending on the property’s energy rating, with the aim of incentivising energy efficient rental properties as an attractive option for landlords.

All green rates are available to properties that have been registered for over 24 months with an EPC rating of C and above and come with a 1.5% fee.

The five-year fixed-rate products offered at up to 65% LTV come at a rate of 3.15% for properties with an A/B EPC rating, and 3.20% for those with a C EPC rating.

Meanwhile, the five-year fixed-rate products at up to 75% LTV offer a rate of 3.25% for properties with an A/B EPC rating, and 3.30% for a C EPC rating.

Paul Brett, managing director for intermediaries at Landbay (pictured above), said: “Properties being let by landlords are obliged to have at least an E rated EPC — however, the government has said it wants as many as possible to be upgraded to band C or above by 2035.

“We hope our green mortgage range will go some way to help achieving that goal and incentivise more landlords to consider adding energy efficient properties to their portfolio.”

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