Leeds Building Society is extending its range of products for the most energy efficient properties by offering its first green Buy to Let products.
The new fixed rate mortgages will see the Society re-enter 80 per cent LTV (loan to value) Buy to Let lending, while also improving the choice for borrowers in its 75 per cent LTV range.
All are designed for the purchase of properties with an energy efficiency rating of A-C* and are:
- Buy to Let 1.62 per cent two year fixed rate mortgage, up to 75 per cent LTV
- Buy to Let 2.06 per cent five year fixed rate mortgage, up to 75 per cent LTV
- Buy to Let 2.99 per cent two year fixed rate mortgage, up to 80 per cent LTV
- Buy to Let 3.15 per cent five year fixed rate mortgage, up to 80 per cent LTV
Each comes with a free standard valuation and a £999 fee, with the products available initially only through intermediaries. Both 75 per cent LTV products come with £500 cashback on completion.
The Society was among the first lenders to join the Green Finance Institute (GFI)’s Coalition for the Energy Efficiency of Buildings, and its new mortgages, launched today (28/9) align with the Institute’s Green Home Finance Principles. **
Emma Harvey, programme director at the Green Finance Institute, comments: “Housing is responsible for 14 per cent of the UK’s total emissions, therefore it is vital that homeowners and landlords can access the advice, tools and finance needed to decarbonise their portfolios. We welcome today’s announcement by Leeds Building Society to offer green mortgages to Buy To Let customers, which align with our Green Home Finance Principles, and will support investment flows towards net-zero homes across the UK.”
As part of its Buy to Let changes, the Society is increasing available LTVs for first time landlords from 70 per cent to 75 per cent maximum LTV.
