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Dudley Building Society expands energy efficient offering to meet green mortgage demand

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  • 11/06/2021
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Dudley Building Society expands energy efficient offering to meet green mortgage demand
Dudley Building Society has launched two remortgage products and an advance product aimed at homeowners and landlords wanting to improve their property's energy performance certificate (EPC) rating.

 

For existing customers, an advance two-year product with a 2.1 per cent discount for energy efficiency is now available with a rate of 2.89 per cent, and a maximum loan to value (LTV) of 70 per cent.

Loans between £5,000 and £100,000 can be offered, and 0.5 per cent cashback is available. The cashback is paid on completion and has no arrangement fee.

Landlords wanting to improve their properties to an EPC rating of at least C can now access a three-year fixed rate at 3.79 per cent, up to 70 per cent LTV.

The product has a minimum loan size of £175,000, with the maximum loan size set at £1 million. The product offers £950 cashback on completion and no arrangement fee.

For homeowners, the lender will now offer a two-year fixed at 3.79 per cent, up to 80 per cent LTV, if they want to improve the EPC rating to a minimum of B.

This product also has £950 cashback on completion, no arrangement fee and a free valuation and fee-assisted legals.

As part of the offer, customers must commit to completing energy upgrade works.

Dudley Building Society’s commercial director Sam Ward (pictured) said: “The green mortgage market has experienced increasing domestic demand over the past eighteen months and, with the government keen to cut down emissions, launching these remortgage and further advance products is our initial response.

“We hope to incentivise more homeowners who have been looking for ways to improve their properties’ energy efficiency and reward them with strong products allied to a combination of cashback and/or fee assisted incentives,” she added.

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