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Leeds BS introduces green cashback mortgages

  • 02/08/2021
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Leeds BS introduces green cashback mortgages
Leeds Building Society is launching two cashback mortgages to reward borrowers buying energy efficient homes.


The two products, to launch on Friday, give £500 cashback on completion. The incentive applies to the purchase of homes with an energy efficiency rating of A to C.

The deals are available through intermediaries and have a free standard valuation and a £999 fee.

A two-year fixed rate is available up to 85 per cent loan-to-value (LTV), priced at 1.90 per cent.

At 90 per cent LTV a rate of 2.33 per cent is available.

Leeds Building Society has also signed up to the Green Finance Institute’s coalition for the energy efficiency of buildings, as well as the institute’s green home finance principles.

These principles seek to create a framework of market standards to ensure financial proceeds for the purchase, retrofit or self-build construction of buildings have concrete environmental benefits.

Leeds Building Society products director Matt Bartle said that the mutual was making good progress on its targets and was pleased to demonstrate its values by having a “direct link between our products and positive environmental action”.

He said: “As well as being the right thing to do for the planet, ensuring your home is as energy efficient as possible can save money longer term and we’re looking at more ways to share our knowledge and support our members as they look to reduce their environmental impact.”

Green Finance Institute’s director Emma Harvey said: “We are delighted to see Leeds Building Society, a valued member of our coalition, supporting the growth of the green mortgage market with these new products which tap into increasing consumer awareness of the need to decarbonise our homes.”

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