Non-bank lender West One Loans has launched an environmental initiative, to fund projects with sustainability and carbon reduction measures in mind.
As part of its ‘Funding the Future’ campaign, West One has developed a series of products across its entire range, launching with the release of the GREEN product for buy-to-let (BTL).
The initiative is supported by West One’s parent company Enra Specialist Finance, which says it is an important part of the group’s overall ESG strategy.
The GREEN product range will be available for selection on West One’s broker portal for standard property types with an Energy Performance Certificate (EPC) rating of A to C.
Rates start initially at 65% loan-to-value (LTV) and 70% LTV with 2-year and 5-year fixed rate options available, from 3.04% with a 1.25% fee.
Loan sizes start at £50,000 up to a maximum of £1.5m, and although not available for new-build properties, conversions are permitted.
Stephen Hogg, COO at Enra, said: “This campaign launch is about taking responsibility for the changes we can make to have a positive impact on sustainability and carbon reduction, within the property and housing markets.
“We know we cannot change the whole market alone, but we want to make a positive impact where we can.
“Our campaign ‘Funding the Future’ is focused on promoting sustainability through West One, and the launch of the GREEN product range is an important part of our overall ESG strategy.”
Andrew Ferguson, managing director of West One’s buy-to-let division, said: “The GREEN product is a great addition to our range and will appeal to investors and landlords looking to upgrade older properties in particular.
“It’s an important step in terms of bringing those properties into line with the standards required for a more sustainable and carbon neutral property market.
“We will continue to expand our product range in the coming months, whilst maintaining the same high standards of underwriting, customer service and reliable delivery that intermediaries and clients already enjoy from West One.”