From tomorrow, Santander is launching a new range of green remortgage products for residential and buy-to-let borrowers who have a valid A or B rated Energy Performance Certificate (EPC) on their property.
The rates are 0.10% lower than the equivalent standard remortgage rates, with residential two and five-year fixed rates available from 3.81% between 60% and 85% LTV and buy-to-let two and five-year fixes available from 60% to 75% LTV.
Before submitting the application, brokers need to check clients have a valid A or B rated EPC for the property being mortgaged on the government register.
Santander said: "To check your client’s EPC rating, go to the government website for England, Wales and Northern Ireland or Scotland. We’ll carry out checks on applications submitted to confirm your client is eligible."
Santander has also announced that it is withdrawing its buy-to-let two-year tracker rates in the new business and product transfer ranges.
Michael Taylor, head of green finance at Santander UK, said: "We know the cost of making a property energy efficient can be a barrier to home improvements. But it can be a worthy spend, with homes in EPC bands A and B likely to cost less to heat and produce lower CO2 emissions. We’re pleased to be able to add to the financial benefits of owning an energy efficient home with our new range of mortgages.
“In addition, we have an existing range of measures for customers who are still on their energy efficiency improvement journey – with details of financing options, specialist suppliers and installation services, as well as access to a free Energy Performance Certificate review available on our website.”
