HSBC UK has expanded its Energy Efficient Home Cashback (EEHC) mortgage to include buy to let landlords.
This comes hot on the heels off the bank;’s move to increase the maximum loan-to-value for buy to let mortgages for 80% for loans up to £400,000, allowing landlords to purchase properties with a smaller deposit.
The EEHC mortgage offers a £350 cashback payment on completion for customers purchasing or remortgaging a property with a valid energy performance certificate (EPC) rating of A or B.
HSBC UK says the move is to help landlords make sustainable property choices. The bank’s broker survey found that a quarter of brokers believe the amount of cashback on a green mortgage is often a deciding factor for clients.
Oli O’Donoghue, head of mortgages at HSBC UK, says: “Landlords play a vital role in providing quality housing across the UK. By expanding our Energy Efficient Home Cashback mortgage into the buy-to-let market, we are empowering them to make more sustainable choices for their properties and, in turn, for their tenants.
“This increase in availability, alongside our recent move to increase BTL LTVs, demonstrates our commitment to supporting landlords in a responsible and accessible way.”
This article is taken from Landlord Today