Barclays launches Green Home Mortgages for Buy-to-Let
· Barclays Green Home Buy-to-Let Mortgages will provide discounted interest rates for landlords choosing a 2 and 5-year fixed rate on mortgages up to 75 per cent loan-to-value (LTV).
· Mortgage savings of up to £1250 on a Buy-to-Let mortgage of £250,000 over the 5-year fixed term, or £500 on a £250,000 mortgage over the 2-year fixed term.
20th January 2022: Barclays Mortgages has announced the launch of the Barclays Green Home Buy-to-Let Mortgage, available to existing and would be landlords from Friday 21st January 2022. The Barclays Green Home Buy-to-Let Mortgage will reward customers looking to buy to let – who choose to buy an energy efficient new build home – with lower interest rates on their mortgage.
The Barclays Green Home Buy-to-Let Mortgage will be available for new build purchases that have an energy efficiency rating of 81 or above, or are in energy efficiency bands A or B.
Barclays was the first major lender to launch a Green Mortgage in 2018, and has since helped over 4,000 customers complete a purchase on an A or B EPC Energy Efficiency Rated new build home, rewarding them with a lower interest rate. Following its success, Barclays Mortgages will now offer a 10 basis point1 discount for customers who choose 2 and 5-year fixed rate Green Home Buy-to-Let mortgages up to 75 per cent loan-to-value (LTV).
This means customers will have the opportunity to save up to £1250 on a Buy-to-Let mortgage of £250,000 over the 5-year fixed term, or £500 on a £250,000 mortgage over the 2-year fixed term.2
Lee Chiswell, Head of Barclays Mortgages, said: “Barclays was the first major UK lender to launch a Green Home Mortgage in 2018, and we are pleased to be launching our Green Home Buy-to-Let Mortgages, offering rate discounts to customers who are looking to purchase an energy efficient new build home to let, and rewarding them for making greener choices.
“We will continue to explore pioneering green products that meet the demands of our customers, to help them navigate the transition to a low-carbon economy and to encourage innovation in the lending sector.”
Barclays Mortgages’ current green mortgage offering:
Buy to Let
· NEW Two-year fixed rate, 1.64%, £1295 fee, 75% LTV3
· NEW Five-year fixed rate, 1.87%, £1295 fee, 75% LTV3
· Two-year fixed rate, 1.27%, £749 fee, 75% LTV [Help to Buy]
· Two-year fixed rate, 1.85%, no fee, 80% LTV
· Two-year fixed rate, 1.90%, no fee, 90% LTV
· Five-year fixed rate, 1.31%, £749 fee, 75% LTV [Help to Buy]
· Five-year fixed rate, 2.37%, no fee, 90% LTV
- Ends -
Barclays is a British universal bank. We are diversified by business, by different types of customer and client, and geography. Our businesses include consumer banking and payments operations around the world, as well as a top-tier, full service, global corporate and investment bank, all of which are supported by our service company which provides technology, operations and functional services across the Group.
Notes to Editors:
1. Accurate at time of launch.
2. In relation to the comparable core range product with the same fees.
3. Not available for Portfolio Landlords. Portfolio Landlords are those with four mortgaged rental properties or more (including the subject property) across all lenders.
In 2020, Barclays announced its commitment to align all of its financing to the goals of the Paris Agreement, on its way to becoming a net-zero bank by 2050. To find out more about Barclays’ approach to climate change, please visit our website.