The changes came into effect on 1 March, and were brought in to reflect the current property market and the needs of the mutual’s mortgage clients.
The green mortgage product is eligible for properties with an Energy Performance Certificate (EPC) rating of A or B. It aims to reward those with lower-carbon or more energy efficient homes.
There are two green mortgage products, both available up to 80 per cent LTV, its fee-assist product has a rate of 3.3 per cent, whilst the other has a rate of 2.95 per cent.
The mutual is also increasing the LTV for BTL and holiday let mortgages from 70 per cent to 75 per cent.
It will also expand these products out to limited company applicants.
Additionally, the lender will now accept applications from portfolio landlords, which is defined as a landlord with four or more BTL mortgaged properties.
Alun Williams, Swansea Building Society’s chief executive, said: “These changes to our mortgage products have been brought in to keep pace with the needs and demands of borrowers. We have made the decision to increase the loan to value maximum on a number of products to make them more desirable, and we have, after 99 years, decided to allow applications from portfolio landlords.
“Introducing our green mortgage is something we feel is very important to the future of the society. It incentivises the purchase of energy efficient homes, and this is something that we believe will become an increasingly important factor when people consider a home for themselves and their families.”
