Mortgages

Barclays launches 85% LTV Green Home products

Rozi Jones
|
23rd October 2020
Barclays

Barclays has added two new fee-free products to its Green Home mortgage range.

A two-year fixed rate is available at 3.04% and a five-year fixed rate starts from 3.14%.

Barclays Green Home mortgages are available for residential purchase applications on qualifying new build properties from one of its partner house builders, with intermediary applications accepted from a designated panel of brokers who serve each of these partner firms.

Earlier this week, research from IMLA found that 74% of intermediary lenders expect the green finance sector to become a larger part of the mortgage market in the future, while one in ten advisers (13%) have already seen a rise in customer interest for green mortgages since the start of the Covid-19 crisis.

IMLA’s research found that one in five homeowners would be willing to pay an extra £100 a month for a mortgage if it helped to lower their carbon footprint. This interest from customers is largely driven by the opportunity to save money on energy bills (53%), but 43% also want to take out these products in a bid to feel that they are doing their part to save the environment.

Lenders and advisers are responding to this demand from consumers, too. Nearly a third (29%) of lenders plan to or have already launched a green mortgage product, while a similar percentage of intermediaries (35%) also intend to advise clients on green mortgages in the future.

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