Monmouthshire BS launches new Energy Efficient Mortgage Range for ‘A’ Rated Homes

The new range is available direct and through the intermediary channel, for residential purchases only, and is open to both first time buyers and home movers.

The product range has a short term 2-year fixed rate at 2.39% with a 95% LTV and, a longer term 5-year fixed rate at 2.69% with a 95% LTV.

The Society’s Lending Operations Manager Graham Sumsion said, “We are launching rates that support members who purchase energy efficient homes. This product launch compliments our pilot on the Society led Valuer Project which sees the Society partner with SERO, Rightmove and RICS to understand how consumers who purchase energy efficient homes may be able to borrow more using a modified affordability assessment.”

Decarbonising the UKs housing stock and building more energy efficient homes is one of the ways the country can move towards the UKs target of achieving net-zero by 2050.

It’s estimated that around 30 million homes in the UK account for more than 21% of the country’s total carbon emissions.

Chris Jeanes, Product Development Analyst at the Society commented, “85% of residential properties in the UK are reliant on heating systems powered by fossil fuels. And, yes, retrofitting our homes with more energy efficient heating systems and installing higher grades of insulation is a positive step towards decarbonisation. However, we also need developers to build ‘A’ rated properties as we add to our housing stock to prevent us getting trapped in the cycle of build and retrofit.

When we were developing this new product range, we wanted to look at supporting energy efficient homes as not just a sustainable choice but also an affordable choice. By offering preferential rates on homes that meet our energy efficient criteria, we are supporting both housing developers and home buyers to confidently make these choices.”

Both these products are available direct and through the intermediary channel.

A 2 Year Energy Efficient Home Purchase Mortgage at 2.39% with a maximum LTV of 95% comes with a product fee of £999 and an admin fee of £150. The product is available for residential purchases in England* and Wales with a minimum loan size of £40,000 and a maximum loan size of £500,000 for a single property.

A 5 Year Energy Efficient Home Purchase Mortgage at 2.69% with a maximum LTV of 95% comes with a product fee of £999 and an admin fee of £150. The product is available for residential purchases in England* and Wales with a minimum loan size of £40,000 and a maximum loan size of £500,000 for a single property.

*Excluding the Scilly Isles, Ilse of Man and Channel Islands.

For more information on the Society’s Mortgage Products, including our Energy Efficient Home Purchase Mortgages please visit Mortgage Products. 

If you’re a broker with a question for our team, please contact contact brokers@monbs.com or call 01633 844380