Residential  

Just launches 'green' lifetime mortgage

Just launches 'green' lifetime mortgage

Just Group has launched a ‘green’ lifetime mortgage offering discounted interest rates to customers based on the energy efficiency of their homes.

Borrowers whose property has an ‘A-’ or ‘B-rated’ Energy Performance Certificate can benefit from the green initiative from July 20.

Customers who qualify for the green lifetime mortgage feature will receive a discount of 0.1 per cent on their rate, and a contribution of £50 towards the cost of the Energy Performance Certificate.

Paul Turner, managing director of retail at Just, said: “Our green lifetime mortgage offers customers with energy efficient homes the benefit of more attractive rates on their Just For You Lifetime Mortgage.

“Homeowners who have a property with an energy rating to A or B will not only enjoy lower energy bills but now they can also benefit from a lower interest rate with our green lifetime mortgage.”

The green lifetime mortgage will be available to customers applying for a product in the lender’s ‘Just For You J2.5 LTV’ series.

The lender’s initiative follows the government’s introduction of a £2bn ‘Green Homes Grant’ to help homeowners increase the energy efficiency of their properties, announced by chancellor Rishi Sunak in the Summer Statement last week.

Under the initiative homeowners and landlords will be able to apply for vouchers from September that will cover at least two-thirds of the cost of updating their property, up to £5,000 per household.

For low income households, Mr Sunak said the government will “go even further” with vouchers covering the full cost, up to £10,000.

chloe.cheung@ft.com