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LendInvest launches cashback for energy efficiency improvements

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  • 03/03/2020
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LendInvest launches cashback for energy efficiency improvements
LendInvest is offering select borrowers cashback when they make improvements that enhance the energy efficiency rating of the property during the term of the loan.

 

The lender’s ‘green finance initiative’ is available to bridge-to-let borrowers from March 1.

Borrowers can get up to £600 against the loan redemption amount at the end of the term through the scheme.

LendInvest hopes the initiative will help drive sustainable property improvements.

The cashback amount depends on how much a property’s energy efficiency is improved.

Rental properties must be rated a minimum Energy Performance Certificate (EPC) of E.

If borrowers increase the rating from a C or below to an A they will received the full £600.

From below C to C, or a C to B will generate £200 or £400 respectively.

 

More green initiatives to follow

Rod Lockhart, chief executive at LendInvest (pictured), said: “We’re hugely proud to be able to launch this innovative incentive.

“We’re excited to be among the very first lenders in the sector to be thinking about how we can encourage our borrowers to put the environment first.

“Every time we originate a loan, we’re helping our borrowers to have a positive impact on the environment and the communities in which they work.

“But there is always more we can do. By incentivising our borrowers to improve the EPC rating of their properties, we want to raise the bar and help the property sector improve the energy efficiency of buildings.”

LendInvest said the green initiative is the first in a series of planned product innovations to encourage borrowers to have a positive environmental impact.

It follows a similar mortgage from Kensington.

The lender if offering up to £1,000 cashback to borrowers who make energy efficiency improvements with its Eko mortgage.

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