West One, the specialist bridging finance and buy to let finance lender, has launched its ‘Funding the Future’ campaign, a new environmental sustainability initiative. This is supported by Enra Specialist Finance, West One’s parent company.
This new campaign will fund projects that are based on carbon reduction and sustainability.
Another part of the campaign is the introduction of the Green BTL product range, which will be offered on the broker portal. It is available for standard properties that have an Energy Performance Certificate (EPC) rating of A to C.
Rates on this new product start at 65% LTV and 70% LTV, with both two and five-year fixes, from 3.04% with a fee of 1.25%. Loan sizes are from £50k to £1.5m. This product is not available for new build properties, but conversions are permitted.
Stephen Hogg, COO at Enra, said: “This campaign launch is about taking responsibility for the changes we can make to have a positive impact on sustainability and carbon reduction, within the property and housing markets.
“We know we cannot change the whole market alone, but we want to make a positive impact where we can.
“Our campaign ’Funding the Future’ is focused on promoting sustainability through West One, and the launch of the GREEN product range is an important part of our overall ESG strategy.”
Andrew Ferguson, managing director of West One’s buy-to-let division, added: “The GREEN product is a great addition to our range and will appeal to investors and landlords looking to upgrade older properties in particular.
“It’s an important step in terms of bringing those properties into line with the standards required for a more sustainable and carbon neutral property market.
“We will continue to expand our product range in the coming months, whilst maintaining the same high standards of underwriting, customer service and reliable delivery that intermediaries and clients already enjoy from West One.”
Original article featured here…
Earlier this month, West One made a series of product and criteria changes to its BTL range. The lender reduced fees across most of the five-year fixed suite on the standard W1 product range. For HMOs and MUBs, the specialist W1 products have had rates reduced, now offered from 3.44% with a 1.5% fee.