FHL launches new residential and buy-to-let EPC Saver products

The ‘Buy to Let’ and ‘Residential’ brands of Foundation Home Loans have launched new two and five-year fixed-rate 'EPC Saver' products in partnership with Vibrant Energy Matters to support borrowers who wish to improve the energy efficiency of their properties.

The product is designed for both landlord and owner-occupier borrowers who are purchasing or remortgaging properties who require support in order to renovate and improve the property to ideally achieve an EPC level of C and above.

The buy-to-let EPC Saver is for F1 borrowers – for clients with an almost clean credit history – and comes with two and five-year fixed-rate products, available up to 75% LTV with a 1.25% fee and rates starting at 5.94%.

The residential EPC Saver is also for F1 borrowers - for those who just miss out on the mainstream due to historical credit blips – with products available up to 75% LTV with a fixed £595 fee and rates starting at 6.24%.

All EPC Saver products come with additional features including a detailed EPC through Vibrant Energy Matters, alongside a bespoke report outlining the steps borrowers can take in order to achieve a maximum rating on the property (and further consultancy if desired), as well as £1,000 cashback to be put towards the work required.

Borrowers can claim their free EPC inspection to start their improvement process up to three months after completion of the mortgage.

Tom Jacob, director of product and marketing at Foundation Home Loans, said: “Many of the green mortgage products currently available are aimed at properties which have already achieved an EPC C level or above, however this product is different as it is designed to help those who want to get their properties up to, or beyond, this level, with a free EPC plus a detailed report highlighting the areas to focus on from Vibrant Energy Matters and of course a significant £1,000 cashback to put towards the cost of those works if undertaken.

“Available to both landlord and owner-occupier borrowers we want to support those clients who are keen to improve the energy-efficiency of their properties, who want to benefit from the lower energy costs this will generate, plus of course ensuring we continue to support the improvement of our carbon emission levels from the UK’s property stock.

“With both the buy-to-let and residential EPC Saver we are offering options plus significant cashback and Vibrant’s consultancy support to help property owners move their properties up the EPC ladder, which not only benefits them and their tenants, but also the wider environment.”