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. »
