“This is the first time we have offered a discounted product in the ‘Green ABC+’ range and it is also the first time we have extended availability to F2 borrowers”
The ‘Green ABC+’ product range is available to borrowers buying or repaying a property with an EPC rating between A and C, and is available as part of Foundation’s F1 and F2 product ranges.
Available up to 85% LTV, Foundation offers discount rates with no prepayment charges starting at 2.99% in Tier F1 and 3.24% in Tier F2, as well as two-year fixed rates from 3.84% in the F1 level and 4.09. % in F2.
These new products – available on a principal and interest repayment basis only – all come with a free standard assessment and also benefit from reduced product fees of £595 for fixed rates and £1,295 for discounts.
The Foundation said the new products, particularly the introduction of options for F2 borrowers, expand the availability of green mortgages to residential borrowers based on their credit history and reduced upfront costs.
“Green ABC+” products were introduced by the Foundation last year for homeowners and homeowners and were designed to help borrowers looking to buy/refinance more energy efficient homes and incentivize borrowers to improve ratings EPC of their properties.
Advisors and borrowers can check the EPC of any property online at: https://www.gov.uk/find-energy-certificate in England and Wales, and https://www. scottishepcregister.org.uk/ in Scotland.
George Gee, commercial director at Foundation Home Loans, said: “Green mortgage options for residential homeowners are a key part of our product offering and we are very pleased to launch these new fixed and discounted two-year product options.
“This is the first time we have offered a discounted product in the ‘Green ABC+’ range and it is also the first time we have expanded availability to F2 borrowers, meaning more potential homeowners can get Mortgage rate benefits as a result of purchasing an energy efficient property or having upgraded the EPC level of their existing property.
“Our aim with these products is to incentivize and reward borrowers to help improve the overall energy ratings of the UK’s building stock and to provide a range of mortgages that promote far greater efficiency in this very important area.”