New green mortgages introduced by Skipton Building Society

December 28, 2022 by Brendan O'Neill

Mortgage Advisors

Skipton Building Society has announced the addition of a further three green mortgages to its product range, with two of them being fixed rate loans and the other a buy-to-let one.

These products are a fixed five-year loan with a rate of 4.75% and a fixed two-year loan with 4.90% rate, both of which are available with maximum LTV of 95% and no fee, plus a fixed rate five-year buy-to-let mortgage with 75% LTV, no fee and a 4.95% rate.

The addition of these three new loans comes after Skipton announced a commitment to no-cost EPC Plus reports and assessments for customers, as part of an £11 million investment in making UK homes greener. These new products will enable buyers to borrow anything from £5,000 to £50,000, but they must put half of the sum into making environmentally friendly adjustments to their properties.

Options for that include adding ground source or air source heat pumps, biomass boilers, solar panels or insulation. Speaking to Financial Reporter, the mortgage product head at Skipton BS, Charlotte Harrison, stated that the company was aware of the costs of making properties more energy efficient.

She then went on to add:

“That’s why we’re delighted to add three new additional green borrowing products to our range, to encourage 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.”

All mortgage advisors with the CeMAP qualification will welcome the arrival of these products onto the market.