"We are committed to a green strategy and if our products help people by making it easier to fund these improvements, then we all benefit in the long run."
Dudley Building Society has launched two new remortgage products and a further advance product designed to appeal to homeowners and landlords looking to improve the EPC rating of their properties.
With searches for energy saving home improvements up 96% year on year to July 2020, Dudley has been researching the increased demand from homeowners and landlords seeking finance to complete home improvements to improve their homes’ energy efficiency.
For homeowners looking to improve their EPC rating to a minimum of a B, Dudley is offering a two-year fixed rate at 3.79% up to 80% LTV. The min/max loan for the product is £150k/£1m which also provides a £950 cashback on completion, no arrangement fee, a free valuation and fee assisted legals.
For landlords wishing to improve the rating on their buy-to-let property to at least a C, there is a three-year fixed rate product at 3.79% up to 70% LTV. The min/max loan for the product is £175k/£1m and it also provides a £950 cashback on completion with no arrangement fee.
For existing customers, a two-year 2.10% discount energy efficiency further advance product is now available with a rate of 2.89% and a maximum LTV of 70%. The min/max loan for the product is £5k/£100k and also offers cashback of 0.50% of the loan amount, which is paid on completion and has no arrangement fee.
Commercial director, Sam Ward, said: “The green mortgage market has experienced increasing domestic demand over the past eighteen months and, with the government keen to cut down emissions, launching these remortgage and further advance products is our initial response. We hope to incentivise more homeowners who have been looking for ways to improve their properties’ energy efficiency and reward them with strong products allied to a combination of cashback and/or fee assisted incentives.
“We are committed to a green strategy and if our products help people by making it easier to fund these improvements, then we all benefit in the long run.”