Skipton offers discounted products for green improvements

Skipton has issued two additional loan products specifically for borrowers who want to make green improvements to their homes.

The products come in the form of discounted two-year base rate trackers, one for residential use and one for buy-to-let (BTL).

For residential use, the mortgage is available up to 90% LTV and fixed at 1.09% variable.

The BTL product is available up to 75% LTV and is priced at 1.39% variable.

The minimum loan is set at £5,000 and the maximum at £50,000. There are no prepayment charges.

The green stipulation calls for at least 50% of the loan to be used to fund green home improvements, such as installing solar panels and installing new windows and doors.

The lender has also become a certified member of the Green Finance Institute Coalition for the Energy Efficiency of Buildings.

Charlotte Harrison, Head of Mortgage Products at Skipton, says: “Buildings in the UK are responsible for around 23% of total greenhouse gas emissions, and many of our homes also have low certificate ratings. of energy performance.

“We challenged ourselves…to play a leading role in greening the UK housing market. Helping clients renovate their homes is therefore a crucial first step. »

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