"We experienced increasing customer demand for a green remortgage product and we’re happy to respond to this."
The new product will offer a discounted interest rate to customers remortgaging a property with an Energy Efficiency Rating of A or B.
The new offering will be available up to 85% LTV and will apply to residential homes up to a maximum value of £600,000. Products available will be two and five-year fixed rates with no product fee and will be available to both first-time buyers and home movers across the UK.
The new product supports the bank’s ambition that 50% of its mortgage book is at or above EPC C or equivalent rating of C by 2030.
This week NatWest launched a ‘Sustainable Homes and Buildings Coalition’ with British Gas, Worcester Bosch, and Shelter to improve the energy efficiency of UK buildings. The Coalition will aim to address the key blockers to meeting net zero in the UK buildings environment.
Miguel Sard, MD of Home Buying and Ownership at NatWest Group, said: “We were one of the first lenders to bring our green mortgage to market last year and have seen a lot of success in rewarding customers for making greener decisions. We experienced increasing customer demand for a green remortgage product and we’re happy to respond to this. One of the core parts of our purpose as a bank is to help address the climate challenge and as the principal banking sponsor supporting COP26 in Glasgow later this year, we want to act as a catalyst in supporting the reduction of the carbon footprint from UK residential properties.”
