The UK’s largest non-bank lender, West One Loans, has launched a new environmental sustainability initiative, to fund projects with sustainability and carbon reduction measures in mind.
As part of its ‘Funding the Future’ campaign, West One is developing a series of new products across its entire range, launching today with the release of the GREEN product for buy-to-let.
The initiative is supported by West One’s parent company Enra Specialist Finance which says it is an important part of the group’s overall ESG strategy.
Stephen Hogg, COO at Enra, said: “This campaign launch is about taking responsibility for the changes we can make to have a positive impact on sustainability and carbon reduction, within the property and housing markets.
“We know we cannot change the whole market alone, but we want to make a positive impact where we can.
“Our campaign ’Funding the Future’ is focused on promoting sustainability through West One, and the launch of the GREEN product range is an important part of our overall ESG strategy.”
The new GREEN product range will be available for selection on West One’s broker portal for standard property types with an EPC rating of A to C.
Rates start initially at 65% LTV and 70% LTV with two-year and five-year fixed rate options available, from 3.04% with a 1.25% fee. Loan sizes start at £50k up to a maximum of £1.5m and although not available for new build properties, conversions are permitted.
Andrew Ferguson, managing director of West One’s buy-to-let division said the new products extend the lender’s diverse offering even further.
He said: “The GREEN product is a great addition to our range and will appeal to investors and landlords looking to upgrade older properties in particular.
“It’s an important step in terms of bringing those properties into line with the standards required for a more sustainable and carbon neutral property market.
“We will continue to expand our product range in the coming months, whilst maintaining the same high standards of underwriting, customer service and reliable delivery that intermediaries and clients already enjoy from West One.”