Skipton Building Society is introducing three new additional green borrowing mortgages to its range.
This follows Skipton’s announcement that it is prepared to invest £11m in greening UK homes by giving all of its mortgage customers a free EPC Plus assessment and report.
Through Skipton’s additional green borrowing mortgage products, 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, solar panels, installing biomass boilers and using air source or ground source heat pumps.
Skipton’s new additional green borrowing products include:
- 2 Year Fixed Rate, 95% LTV, Residential, 4.90% until 31/03/2025, £0 fee
- 5 Year Fixed Rate, 95% LTV, Residential, 4.75% until 31/03/2028, £0 fee
- 5 Year Fixed Rate, 75% LTV, Buy-to-let, 4.95% until 31/03/2028, £0 fee
Charlotte Harrison, head of mortgage products at Skipton, said: “At Skipton, we know home energy efficiency is a huge societal challenge where everyone needs to play their part.
“It is only right that the business community steps up to the mark, and as a customer-owned organisation we’re not only reinvesting some of our profits to help our members save money and improve the energy efficiency of their homes through offering free EPC Plus reports and assessments, but we’re helping to also provide ways for them to make green changes to their homes.
“That’s why we’re delighted to add three new additional green borrowing products to our range, to encourage our customers to make green home improvements that will not only help reduce their future energy bills but will also help towards reducing their carbon footprint.“
Skipton is also supporting landlords with the introduction of a buy to let additional green borrowing product to the range. Buy-to-let mortgage customers can also request up to 10 EPC Plus reports for the properties they own. The landlord is only required to have one mortgage with Skipton Building Society to enable them to benefit from up to 10 free EPC Plus reports for their property portfolio.
Skipton’s additional green borrowing products are also in-line with the Green Finance Institute’s green home finance principles, which offer methodology to help firms allocate financial proceeds to purchase, retrofit, or self-build renovate domestic buildings.