Leading buy to let mortgage lender, Paragon, has indicated that there has been a surge of interest in so-called green mortgages linked to good EPC ratings.
Paragon Bank has witnessed a large increase in Buy-to-Let lending in the first half of its financial year – it completed £854.6m of buy-to-let loans in the six months to March 31st. The period also saw a particularly strong increase in green mortgage completions (Paragon’s green mortgage range product range offer a pricing incentive for more energy efficient properties).
Richard Rowntree, Paragon Bank Managing Director of Mortgages said: “I am particularly pleased to see landlords starting to prepare for expected changes to minimum energy performance standards in the private rented sector, with growth in lending on EPC A-to-C properties. This will be a big focus for the industry as we move towards a net zero future.”
The ’Green Mortgage’ market is sure to expand further over the coming years as other BTL lenders enter the fray and we will of course continue to monitor and report on this to our readers.
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