Specialist buy-to-let mortgage lender Birmingham Midshires (BM Solutions), part of the Lloyds Banking Group, have today sent out word to registered mortgage brokers that they will be introducing new products for energy efficient home mortgages.
In a conscious effort to become more eco friendly and provide more sustainable house purchasing means, many builders and lenders are working together to reduce carbon footprints by building more sustainable properties and offering exclusive products and rates to people who purchase them.
In their email communication today, BM Solutions highlighted the following:
- Lloyds Banking Group has committed to reduce carbon emissions we finance by 50% by 2030, and we are also supporting the government ambition for all homes to have an EPC rating of C or above by 2035.
- Today, Friday 22 July 2022, BM Solutions will be launching new products for the purchase, Let to Buy, or remortgage of properties which have an Energy Performance Certificate (EPC) rating of A, B, or C.
- The EPC rating of a property can be checked online via find an energy certificate, or for Scottish properties via the Scottish EPC Register. The EPC rating must be A, B, or C. The certificate can be printed / saved, and you must retain this proof of the rating on your file. We ask that you do not send us this proof as part of the application process but retain this on your file as we may request this at a later point.
- If an EPC certificate has expired or a rating is not available for a particular property, then these products cannot be selected.
- Care must be taken to select the correct product code which will start with ‘GR’. It is imperative these products are only selected where the A, B, or C EPC rating has been confirmed and we will check cases for eligibility.
- These products are available for purchases, Let to Buy, or remortgages.
- Where an EPC rating is not yet available for a New Build property you should retain proof of an A / B Predicted Energy Assessment (PEA) or A / B Standard Assessment Procedure (SAP) calculation.
- Our usual product launch communication will confirm the full product details and when these products are available.
Content and communications manager at Oportfolio mortgages Louis Mason had this to say: “At Oportfolio, buy-to-let investors and landlords are a huge part of our client base. Over the years we have helped hundreds of people to get the best buy-to-let products available and in recent years we have definitely started to see more people asking about sustainable properties and green mortgages. Currently, most of the eco-friendly mortgages are coming from primarily residential lenders so seeing BM Solutions joining in is really good to see. We look forward to being able to offer our clients energy efficient home mortgages with BM.”
If you or anyone you know is interested in an energy efficient property or mortgage, please feel free to give our advisor team a call to discuss your options.