LendInvest launches green finance initiative
LendInvest has launched its first green finance initiative.
The firm says that all its bridge-to-let borrowers are now eligible for cashback when they improve the EPC rating a property during the term of their loan.
The initiative applies to bridge-to-let loan applications from 1 March 2020.
According to LendInvest, borrowers can save up to £600 on every bridge-to-let loan.
Furthermore, borrowers that increase their rating from C or below to an A will receive the maximum amount of cashback available.
Borrowers that increase their rating from below C to C or B will receive £200, and £400 respectively.
Rod Lockhart, chief executive at LendInvest, said: “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.
“Whether it’s the products we bring to market, or the way that they are made available to borrowers and brokers, thinking differently and innovatively is at the heart of how LendInvest works.
“As a responsible business that’s serious about its environmental and social obligations, we are excited to apply our instinct for innovation into green product offers like this.
“We’re really looking forward to extending this initiative right across our product range in the near future.”