Specialist buy-to-let (BTL) lender, Landbay, has announced the launch of its first green mortgage range.
All green products will offer a 0.1% or 0.05% reduction against their non-green counterparts, depending on the property’s energy rating.
By lowering rates in accordance with property Energy Performance Certificate (EPC) ratings, Landbay said it hopes to “incentivise” energy efficient rental properties as an attractive option for landlords.
The lender’s green rates are available to properties that have been registered for over 24-months with an EPC rating of C and above.
Landbay managing director, intermediaries, Paul Brett, commented: “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 2030.
“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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