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Leeds BS adds carbon offset option to 95 per cent LTV loans

  • 22/11/2021
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Leeds BS adds carbon offset option to 95 per cent LTV loans
Leeds Building Society has added a carbon offset benefit to all its 95 per cent loan to value (LTV) mainstream mortgages for purchase.


It allows borrowers to offset the carbon footprint of their property during their mortgage term, which can be two, three, five or 10 years. It is available for all properties, regardless of their energy efficiency rating.

Leeds Building Society has estimated that the average property produces around 4.2 tonnes of carbon per annum for heating, lighting and power usage, and will offset that.

The mutual added that it would also be investing in forecasting the environmental impact of each home during the initial fixed term of the mortgage.

Matt Bartle (pictured), Leeds Building Society’s director of products, said that it was the first lender to offer purchasers this method of addressing their home’s carbon footprint via their mortgage.

He added: “This new carbon offsetting benefit for purchasers is available with a high LTV mortgage on any property whatever its EPC rating, as we understand bringing up your home to the highest standard can be expensive.

“We hope our offsetting of the home’s carbon footprint during the mortgage fixed term gives the buyer that time to consider next steps, such as saving up for improvements they need like a new boiler or replacement windows.”

He added: “This is a new and developing market so we’re launching our latest innovation on a pilot basis to gauge consumer appetite as we explore how to better support our members as they look to reduce their impact on the environment.”

The lender currently offers cashback mortgages and discounted rates for energy efficient homes and also runs a tree planting project in the Yorkshire Dales linked to its children’s savings accounts.

The mutual plans to achieve carbon neutrality for director emissions and indirect emissions this year, which it says is 12 months ahead of plan.

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