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Foundation green remortgage offers homeowners rewards

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  • 14/04/2021
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Foundation green remortgage offers homeowners rewards
Foundation Home Loans is rewarding residential borrowers who have increased the energy efficiency of their homes with reduced product fees and cash back when they remortgage.

The Green Reward range is available to existing homeowners who have achieved an Energy Performance Certificate (EPC) rating C after carrying out home improvements.

Homeowners with an C- rate EPC dated with that last two years, will pay a £595 product fee instead of £995 and will receive £750 cashback on completion.

The green incentives apply to a two-year fixed rate at 3.24 per cent at 75 per cent loan to value (LTV)  and a 4.39 per cent at 85 per cent LTV.

If borrowers want to fix their rate for five years, a 3.59 per cent deal and a 4.74 per cent deal are available at 75 per cent and 85 per cent LTV respectively.

The deals are available to borrows who fall outside the high street banks’ credit scoring criteria.

Foundation does not stipulate specific types of improvements which must have been carried out for the owner occupiers to qualify for this remortgage.

George Gee, commercial director at Foundation Home Loans, said: “Having launched our Green Reward remortgage offering for landlords during February, we’re now able to expand our green offer to residential borrowers providing a greater degree of choice for those borrowers who are not able to access high-street lenders, but who undoubtedly should be rewarded for improving the energy efficiency of their home.”

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