Fee-Free Green Products are here

Coventry Building Society have just launched a new Green Further Advance product available for residential and buy to let properties. 

 

What is a Green Product? 

 

A ‘Green Product’ is a selective mortgage product available to houses that have an Energy Performance Certificate of A, B or C only. These typically come with reduced interest rates and lower fee’s. You can easily check out what EPC Rating your house currently has by a google search. 

 

To raise your properties EPC rating you will need to make improvements to the property, which can come with a large bill to do so. Coventry have just launched their Green Further Advance Products which offer a lower rate of interest as long as the customer borrowing the money are going to make eligible energy efficient home improvements to enable you to make those improvements which benefit the tenants as well as your pockets. 

 

These products are available for residential and buy to let customers and the products offer two and five year fixed rates. The maximum borrowing amount is £25,000 and the key criteria point is that at least half of this money needs to be used for those energy efficient home improvements. The remainder of the money can be used for other home improvements only. 

 

With rates as low as 3.53% for residential, and 3.94% for buy to let customers with a 75% maximum loan to value, these products are not to be missed. Both products also come with zero product fee. 

So whether you are looking to make subtle changes such as draught-proofing windows, or embarking on a bigger product such as installing solar panels, this product will assist you to improve your property. 

 

If you would like to know more about this product and whether you can qualify, please email kendyl@hdconsultants.net