Newbury launches two new green mortgage products
Newbury Building Society have today announced two new products in their GoGreen Mortgage range, aimed at existing buy to let mortgage customers.
The products, for both individual borrowers and limited companies, are to help existing customers who wish to secure further lending to improve the energy efficiency of their rental properties.
The mortgages are available for loans of between £2,500 and £39,999, with the requirement that at least 50% of the funds will be used for environmentally friendly improvements to the property, such as cavity wall insulation, solar panel installation, or the fitting of an air source heat pump. There are no arrangement or booking fees, and overpayments are permitted on both products.
Roger Knight, lending manager at the Society, commented:
“We are keen to help our borrowers improve the energy efficiency of their let properties. Government legislation is in the pipeline that will force landlords to ensure their properties meet minimum energy standards and we are here to help ease this transition.”
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
This week's biggest stories:
Santander
Santander launches 98% LTV ‘My First Mortgage’
First-time Buyer
Improved affordability sparks 20% rise in first-time buyers: NationwideÂ
Inflation
Further rate cuts dampened as inflation rebounds to 3.4%
Mortgage Rates
Two Big Six lenders increase mortgage rates as swaps rise
Bank Of England
Bank of England holds interest rates at 3.75% in narrow 5-4 vote
Interest Rates
Looser Fed policy stance could slow further rate cuts, policymakers warn