Barclays has widened the availability of its green mortgages to include new-builds purchased directly from the builder or developer.
Properties must have an energy efficiency rating of 81 or higher, or fall within energy efficiency band A or B.
For homes that are still under construction, a predicted energy assessment (PEA) document must be provided.
Barclays Green Home mortgages have lower rates than its standard range, including a two-year fixed Help to Buy product at 75 per cent loan to value (LTV) priced at 1.74 per cent, compared to the standard alternative which is priced at 1.79 per cent.
The two-year fixed fee-free green mortgage at 90 per cent LTV is set to 3.62 per cent, compared to the standard offering’s rate of 3.72 per cent.
Updated bonus policy
The bank also revised its bonus policy to consider 50 per cent of quarterly or annual bonuses for affordability assessments, up from the 25 per cent previously.
Customers and brokers do not need to do anything differently when recording bonuses during an application as Barclays’ system will automatically apply the calculation.
For income multiples, 100 per cent of annual and quarterly bonuses will continue to be considered.
These changes apply from today.
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS