Santander launches mortgage discount for “green” homes

Santander UK has introduced a range of discounted rate mortgages for residential and Buy to Let customers remortgaging a property with an EPC rating of A or B. The products, available exclusively via brokers on mortgages from 60-85% LTV, and offering a discount of 0.10% on standard remortgage rates, include:

Residential:

• 60% LTV, two-year-fixed green remortgage, £999 fee, at 4.10%¹
• 75% LTV, two-year-fixed green remortgage, £0 fee, at 4.65%
• 85% LTV, two-year-fixed green remortgage, £999 fee, at 4.98% 
• 60% LTV, five-year fixed rate, £999 fee, at 3.81% 
• 75% LTV, five-year fixed rate. £0 fee, at 4.21% 
• 85% LTV, five-year fixed rate, £999 fee, at 4.45% 
  
  

Buy-to-let:

• 60% LTV, two-year-fixed green remortgage, £1,749 fee, at 4.32% 
• 75% LTV, two-year-fixed green remortgage, £0 fee, at 4.98% 
• 60% LTV, five-year fixed rate, £1.749 fee, at 3.97% 
• 75% LTV, five-year fixed rate. £0 fee, at 4.39% 
  
  

Examples of New Build Exclusive fixed rates that have been reduced include:

• 60% LTV three-year fixed rate at 4.17% with a £999 fee New Build purchase – rate decreased by 0.13%
• 85% LTV three-year fixed rate at 5.00% with a £0 fee New Build purchase – rate decreased by 0.03% and £250 cashback added
• 95% LTV three-year fixed rate at 5.66% with a £0 fee New Build purchase - rate decreased by 0.05% and £250 cashback added
  
  

Examples of Green Remortgage rates available on two and five-year products, for properties with an A or B EPC rating include:

• 60% LTV five-year fixed rate at 4.07% with a £999 fee green remortgage – rate decreased by 0.12% 75% LTV two-year fixed at 4.36% with a £1749 fee green remortgage – rate decreased by 0.10%
• 75% LTV five-year fixed rate at 4.26% with a £999 fee green remortgage – rate decreased by 0.17% Examples of Buy-to-Let reductions available on five-year fixed rate products include:
• 75% LTV five-year fixed rate at 4.40% with a £1749 fee remortgage – rate decreased by 0.14% 75% LTV five-year fixed rate at 4.67% with a £0 fee purchase – rate decreased by 0.08%
  
  

Examples of Buy-to-Let Green Remortgage reductions available on two and five-year fixed rate products include:

• 75% LTV 2-year fixed at 4.36% with a £1749 fee green remortgage – rate decreased by 0.10%
• 60% LTV 5-year fixed at 4.13% with a £1749 fee remortgage – rate decreased by 0.08%
• 75% LTV 5-year fixed rate at 4.57% with a £0 fee remortgage – rate decreased by 0.16%
  
  

The full list of rates can be found on Santander's website.

Michael Taylor, Head of Green Finance, Homes, at Santander UK said:

“We know the cost of making a property energy efficient can be a barrier to home improvements. But it can be a worthy spend, with homes in EPC bands A and B likely to cost less to heat and produce lower CO2 emissions. We’re pleased to be able to add to the financial benefits of owning an energy efficient home with our new range of mortgages.”

“In addition, we have an existing range of measures for customers who are still on their energy efficiency improvement journey – with details of financing options, specialist suppliers and installation services, as well as access to a free Energy Performance Certificate review available on our website.”

Ends

The information contained in our press releases is intended solely for journalists and should not be used by consumers to make financial decisions.

Notes to Editors:

1. The pricing for properties rated EPC C or below are:
   

Residential:

• 60% LTV, two-year-fixed remortgage, £999 fee at 4.20%
• 75% LTV, two-year-fixed green remortgage, £0 fee, at 4.75%
• 85% LTV, two-year-fixed green remortgage, £999 fee, at 5.08%
• 60% LTV, five-year fixed rate, £999 fee, at 3.91% 75% LTV, five-year fixed rate. £0 fee, at 4.31% 85% LTV, five-year fixed rate, £999 fee, at 4.55%
  
  

Buy to let:

• 60% LTV, two-year-fixed green remortgage, £1,749 fee, at 4.42%
• 75% LTV, two-year-fixed green remortgage, £0 fee, at 5.08 %
• 60% LTV, five-year fixed rate, £1,749 fee, at 4.07%
• 75% LTV, five-year fixed rate. £0 fee, at 4.49%