The State Bank of India (UK) has launched a green mortgage range for borrowers purchasing or re-mortgaging a property that has an ‘A’ or a ‘B’ EPC rating.
The range will be available to all qualifying applicants, including limited companies, SPVs (special purpose vehicles), HMOs (houses in multiple occupation) and ex-pats.
A 0.10% rate discount compared to the standard product range is available up to 75% loan-to-value (LTV).
Rates for the green ‘standard’ products start from 2.40% for 3 and 5-year fixes, while the specialist version starts at 2.44% for 2 and 5-year fixes.
Green HMO product starts at 2.70% for 2and 5-year fixed rate products and for ex-pats, it’s 2.89% for 2 and 5-ear fixes.
Sanjay Pandey, executive director, State Bank of India (UK), said: “Everyone at SBI UK Ltd recognises that we all need to be making changes to the way we live and work to support protecting the environment.
“The introduction of Green Mortgages is one of the many steps the bank is taking towards the same. SBI (UK) hopes that by rewarding our customers for their energy efficient homes and encouraging them to consider environmental impact when making new property purchases, we can play our part in reducing our carbon emissions.”
