Barclays has expanded availability of Green Home mortgages to include any newly built property purchased directly from the builder or developer with an energy efficiency rating of 81 or higher, or an energy efficiency band A or B. This move that will allow more customers to benefit from a reduced interest rate on an energy efficient home.
Mortgage applicants will need to provide a valid Energy Performance Certificate (EPC) or a valid Predicted Energy Assessment certificate if the property remains under construction.
Additionally, the proportion of quarterly or annual bonuses that will be considered as part of an affordability assessment is increasing from 25% to 50%.
Brokers and their customers do not need to do anything differently when recording bonuses during in application; the system will automatically apply the relevant calculations. 100% of annual and quarterly bonus will continue to be used for income multiples.
