Interest in energy efficient homes spikes: L&G | Mortgage Strategy

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Greater interest in energy efficient homes was evident in a 34% rise in searches that consider a property’s energy performance certificate (EPC) rating in July, says Legal & General Mortgage Club.

Other data garnered by its SmartrCritera tool shows that niche lending is still extremely popular, with searches for retirement properties rising by 26% and searches for second homes going up by 17%.

Help to Buy, too, saw greater interest, being 18% more popular on the month in July.

Some of the biggest gains were seen in the overseas buyer area. For example, searches on the behalf of ex-pats of EU citizens in the UK rose by 25%, and searches for borrowers with foreign income saw a 14% increase.

And for expats not based in the UK, searches ticked up 17%.

Legal & General director of mortgage services Kevin Roberts says: “It’s reassuring to see the market retain its momentum despite wider economic pressure. In some areas, such as the overseas market, demand is even rising. This includes an increasing number of expatriates and EU citizens seeking UK mortgages.

“This month’s data also shows that some buyers are considering eco-friendly products and making greener choices. We are still very much in the early stages of the green revolution, but it seems safe to assume that rising energy bills have prompted more buyers to consider the financial benefits of opting for greener homes.

“While volumes remain low for now, brokers and lenders have a key part to play in raising awareness of green products and educating borrowers about EPCs, retrofitting, and other associated factors.”


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