Leeds Building Society aims to offer more generous mortgages on energy efficient homes
Leeds Buiding Society aims to issue more generous mortgage loan sizes on energy-efficient homes.
The lender has upgraded its mortgage affordability calculator to account for reduced monthly outgoings for energy-efficient homes.
The calculator works out how much applicants can borrow for a mortgage and now includes questions about properties and energy ratings. The improved affordability will apply to homes built since 2020.
Mortgage lenders typically offer slightly cheaper rates to borrowers buying energy-efficient homes rather than larger loan sizes.
Leeds highlights that housing is responsible for 16 per cent of the UK’s total emissions; a customer seeking a residential mortgage up to 90 per cent loan to value against a new build standard property valued at £225,000 could borrow £210,000 versus £199,000 on a non-new build property.”
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The information contained within this article was correct at the time of publication but is subject to change.
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