State Bank of India (UK) has launched a green mortgage product range for applicants who are purchasing or re-mortgaging a property that has an ‘A’ or a ‘B’ EPC rating.
The product will be available to all of the lender’s qualifying mortgage 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% LTV.
Rates for the green ‘standard’ products start from 2.40% for three and five year fixes, while the specialist version starts at 2.44% for two and five year fixes.
The green HMO product starts at 2.70% for two and five year fixed rate products and for ex-pats it’s 2.89% for two and five year fixes.
The State Bank of India (SBI) UK is celebrating its centenary this year, as the bank reaches 100 years of operation in the UK, and has expanded to 12 retail branches across the country.
SBI UK’s Executive Director Sanjay Pandey says: “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”
Further details of SBI UK’s green product range are available on their intermediary website.
