Keystone Property Finance launches new green mortgages incentivising landlords to make properties more energy efficient
Keystone Property Finance, the specialist buy-to-let lender, has launched a range of green mortgages that reward landlords who make their homes more energy efficient.
The new green range offers a 15 basis point reduction on Keystone’s core range and is open to landlords with properties five years or older and with an EPC rating of A to C.
It means Keystone’s green range starts at a competitive 3.04% for a two-year fixed rate, while five-year fixed rates start at 3.19% (see notes to editors for full list of green mortgage range).
The green range is available for purchase or remortgage and on all properties, including HMOs and multi-units, with a maximum loan size of £1m.
While the green range will not be available on sourcing systems at launch, brokers can find out more about the products by getting in touch with their Keystone BDM, using the lender’s online web chat facility or by calling the broker hotline on 0345 148 9086.
Alongside the range, Keystone will also partner with environmental group Make it Wild (MIW), which will plant trees to offset the carbon footprint created by the lender’s office in Kent.
The green mortgage launch coincides with an extensive overhaul of Keystone’s core and larger loan mortgage ranges.
As part of the revamp, Keystone is reducing its rates on its core range, which now starts at 3.19%, by up to 20 basis points.
The lender will also now accept HMOs with up to 10 bedrooms, up from eight before, and will advance up to £3m to any one landlord, up from £2m before.
It has also decided to make some rate reductions on its larger loan range, which was launched last summer, after experiencing good take up from landlords.
David Whittaker, Chief Executive Officer of Keystone Property Finance, comments:
“The climate crisis is the greatest challenge of our, or indeed any, generation and the only way we can solve it is if we all play a part, including the mortgage and property sectors.
“At 14% of total emissions, the UK’s ageing and inefficient housing stock has a far greater carbon footprint than the farming industry in this country and nearly as much as its shops and offices.
“Therefore, it’s clear we need to do something – and urgently. Going out and buying a new build with an A or B EPC rating is not an option for most and won’t solve the problem. So what we need is a retrofitting programme on existing properties the likes of which we have never seen before in this country.
“That’s why we launched our green mortgage range, to play a small role incentivising landlords to upgrade the energy efficiency ratings of their properties now, not tomorrow or the day after.
“If we can persuade even a few landlords to make their homes greener – and lower the energy bills of their tenants in the process – then this range will have achieved everything we wanted it to achieve.”
…ends…
About Keystone Property Finance Limited
Keystone Property Finance Limited is an intermediary only lender providing specialist buy to let finance to portfolio and non-portfolio landlords borrowing both personally and via limited companies. It is owned by The Property Business Group Limited. For more information please visit: www.keystonepropertyfinance.co.uk
NOTES TO EDITORS:
For further information please contact:
Chris Tuite
Head of Consumer Finance, MRM Communications
0203 320 9926
07471 350 810
Keystone’s new green mortgage range in full:
Standard:
|
Term (years) |
Rate |
LTV |
Loan amount |
|
Two-year fix |
3.04% |
65% |
£50k-1m |
|
Two-year ix |
3.20% |
75% |
£50k-1m |
|
Five-year fix |
3.19% |
65% |
£50k-1m |
|
Five-year fix |
3.39% |
75% |
£50k-1m |
Specialist:
|
Term |
Rate |
LTV |
Loan amount |
|
Two-year fix |
3.29% |
65% |
£50k-1m |
|
Two-year fix |
3.50% |
75% |
£50k-1m |
|
Five-year fix |
3.44% |
65% |
£50k-1m |
|
Five-year fix |
3.79% |
75% |
£50k-1m |