Landbay, the buy-to-let lender, has reduced rates on its green product range. Launched recently, these rates are exclusively for properties that have been registered for at least 24 months with an energy performance certificate (EPC) rating of C or above. The lender hopes to incentivise landlords to make their rental properties more energy efficient, in line with government targets.
The BTL green product range 75% LTV, 2-year fixed rate now starts at 2.89%. In additional, there are two new 5-year fixed rate products, at 70% LTV, at 3.09% offered for properties with an A or B EPC rating, and 3.14% for properties with a C rating.
Landbay has also made a reduction to its core BTL range, with 2-year fixed rate mortgages now starting at 2.85%.
Paul Brett, managing director of Landbay, said: “Two months into our green mortgage range and the interest from intermediaries has been incredible.
“We have now introduced a 70% LTV green mortgage, to help satisfy landlord demand.
“We have also been able to lower rates on most of our core products and will continue to maintain our highly competitive stance in the market to ensure a really strong year has an even stronger finish.”
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Landbay recently published a blog on its website calling for a green future for the building sector. The lender is working towards a more environmentally future alongside the Financial Conduct Authority (FCA) and the government.