It’s no secret that energy prices have increased exponentially since Russia’s invasion of
Ukraine in February 2022. Two years later, British consumers are still facing elevated costs
to fuel their homes, with the Government recently confirming that it expects the average
household to spend up to 30% – 40% more on average to heat their homes this winter
compared with the winter of 2021/22.
With the House of Commons admitting there is very little prospect that prices will fall anytime
soon, being more energy efficient is top of mind for many households. Prices aside, energy
consumption is also a pressing topic as we move closer to the Net Zero target, which seeks
to create a carbon neutral economy by 2050.
With all that said, being more mindful about energy consumption could actually be good
news for landlords on multiple fronts with high street lender Santander rolling out discounted
mortgage rates for the most energy efficient properties.
Available on mortgage products from 60% to 85% loan-to-value (LTV), rates start from
4.32%, for properties with an Energy Performance Certificate (EPC) rating of A or B. An A
rated home is the most energy efficient. Ratings are based on considerations such as
construction, lighting and heating and hot water systems.
The head of green finance at Santander Homes, Michale Taylor commented, “We know the
cost of making a property energy efficient can be a barrier to home improvements.
“But it can be a worthy spend, with homes in EPC bands A and B likely to cost less to heat
and produce lower CO2 emissions.
“We’re pleased to be able to add to the financial benefits of owning an energy efficient home
with our new range of mortgages.”
