Leeds BS launches first green BTL deals

Jake Carter

September 28, 2021

Leeds Building Society has extended its range of products for the most energy efficient properties by offering its first green buy-to-let (BTL) products.

The fixed rate mortgages will see the society re-enter 80% loan-to-value (LTV) BTL lending, while also improving the choice for borrowers in its 75% LTV range.

All products have been designed for the purchase of properties with an energy efficiency rating of A to C.

The range includes a 75% LTV 2-year fix at 1.62%, a 75% LTV 5-year fix at 2.06%, an 80% LTV 2-year fix at 2.99% and an 80% LTV 5-year fix at 3.15%.

Each comes with a free standard valuation and a £999 fee, with products available initially only through intermediaries.

Both 75% LTV products come with £500 cashback on completion.

Matt Bartle, director of products at Leeds Building Society, said: “We’re always looking for more ways to share our knowledge and support our borrowers as they look to reduce their environmental impact.

“By offering the Society’s first green Buy to Let products and increasing the maximum LTV on our BTL lending up to 80% LTV, we’re ensuring we continue to create products that widen choice and respond to the needs of borrowers.

“We recently launched green residential mortgages and we’re pleased to now be able to support landlords with these new products.

“As part of our responsible business strategy, we’re proud to have been one of the first building societies to sign up to the Green Home Finance Principles created by the Green Finance Institute.”

Emma Harvey, programme director at the Green Finance Institute, added: “Housing is responsible for 14% of the UK’s total emissions, therefore it is vital that homeowners and landlords can access the advice, tools and finance needed to decarbonise their portfolios.

“We welcome today’s announcement by Leeds Building Society to offer green mortgages to BTL customers, which align with our Green Home Finance Principles, and will support investment flows towards net-zero homes across the UK.”

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