Clients aspiring to be green? The EPC Saver mortgage – with £1,000 Cashback, free EPC Plus and bespoke energy improvement plan
In conjunction with Vibrant Energy Matters (Vibrant), the new EPC Saver mortgage by Foundation Home Loans offers buyers a new level of support in improving properties up to higher levels of energy efficiency which launches on Thursday 25th July 2024.
NEW PRODUCTS
Buy to Let by Foundation EPC Saver:
- F1 EPC Saver 2- and 5- Year Fixed products up to 75% LTV with a 1.25% fee, free EPC Plus and £1,000 cashback with rates starting from 5.94%
Residential by Foundation EPC Saver:
- New F1 EPC Saver 2- and 5- Year Fixed products up to 85% LTV with a £595 fee, free EPC Plus and £1,000 cashback with rates starting from 6.24%
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Why use Foundation’s EPC Saver Products?
Typically, ‘green’ mortgage products are aimed at properties which already have an Energy Performance Certificate (EPC) of C or above, but this product is different. In conjunction with Vibrant Energy Matters, the new EPC Saver proposition helps people improve their EPC rating – either to get their property up to a level C or above from a level of D or E, or equally to improve from (say) a level of EPC C to EPC A.
The product offers a choice of 2- or 5- year fixed rates with additional features including a detailed EPC Plus from Vibrant, which includes a bespoke report outlining the steps necessary to achieve an enhanced EPC rating on that property as well as £1,000 cashback to start the improvement journey. Vibrant offer ongoing support with improvements if the customer wishes to take that option.
Foundation accept a minimum EPC rating of ‘E’ for a property in its current state, and buyers can claim their free EPC inspection from Vibrant to start their improvement process up to 3 months after completion.
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Tom Jacob, Director of Product and Marketing at Foundation Home Loans, said:
“Many of the Green mortgage products currently available are aimed at properties which have already achieved an EPC C level or above, however this product is different as it is designed to help those who want to get their properties up to, or beyond, this level, with a free EPC plus a detailed report highlighting the areas to focus on from Vibrant Energy Matters and of course a significant £1,000 cashback to put towards the cost of those works if undertaken.
“Available to both landlord and owner-occupier borrowers we want to support those clients who are keen to improve the energy-efficiency of their properties, who want to benefit from the lower energy costs this will generate, plus of course ensuring we continue to support the improvement of our carbon emission levels from the UK’s property stock.
“With both the Buy-to-Let and Residential EPC Saver we are offering options plus significant cashback and Vibrant’s consultancy support to help property owners move their properties up the EPC ladder, which not only benefits them and their tenants, but also the wider environment.”