The products, for both individual borrowers and limited companies, are to help existing customers who wish to secure further lending to improve the energy efficiency of their rental properties.
The mortgages are available for loans of between £2,500 and £39,999, with the requirement that at least 50% of the funds will be used for environmentally friendly improvements to the property, such as cavity wall insulation, solar panel installation, or the fitting of an air source heat pump. There are no arrangement or booking fees, and overpayments are permitted on both products.
Roger Knight, lending manager at the Society, commented:
“We are keen to help our borrowers improve the energy efficiency of their let properties. Government legislation is in the pipeline that will force landlords to ensure their properties meet minimum energy standards and we are here to help ease this transition.”
