Barclays pledges to continue exploring ‘pioneering green products’ as it launches green mortgages for buy-to-let properties. The financial company launched its first green residential mortgage in 2018 and has since helped over 4,000 customers complete a purchase on an A or B EPC Energy Efficiency Rated new build home, rewarding them with a lower interest rate.
The new Green Home Buy-to-Let Mortgage will reward customers looking to buy to let – who choose to buy an energy-efficient new build home – with lower interest rates on their mortgage. The Barclays Green Home Buy-to-Let Mortgage will be available for new build purchases that have an energy efficiency rating of 81 or above or are in energy efficiency bands A or B. Following its success, Barclays Mortgages will now offer a 10 basis point1 discount for customers who choose 2 and 5-year fixed rate Green Home Buy-to-Let mortgages up to 75% loan-to-value (LTV). This means customers will have the opportunity to save up to £1250 on a Buy-to-Let mortgage of £250,000 over the 5-year fixed term, or £500 on a £250,000 mortgage over the 2-year fixed term.2
Lee Chiswell, Head of Barclays Mortgages, said: “Barclays was the first major UK lender to launch a Green Home Mortgage in 2018, and we are pleased to be launching our Green Home Buy-to-Let Mortgages, offering rate discounts to customers who are looking to purchase an energy-efficient new build home to let, and rewarding them for making greener choices. We will continue to explore pioneering green products that meet the demands of our customers, to help them navigate the transition to a low-carbon economy, and to encourage innovation in the lending sector.”
