View more on these topics

As part of…

As part of Energy Efficiency Week, Norwich & Peterborough Building Society will plant 40 trees over five years for every borrower who takes out a “carbon neutral” mortgage.

A survey by the society has found homeowners lack awareness of the benefits of energy efficiency. Homes account for a quarter of the UK&#39s greenhouse gas emissions, equivalent to 170 million tonnes a year.

Carbon neutral mortgages for existing homeowners come with a 1 per cent discount off N&P&#39s standard variable rate of 7.44 per cent for four years and include a free energy survey by N&P surveyors.

Clients can borrow up to 95 per cent of the property price or valuation, whichever is the lower, and receive £500 cashback tow-ards home improvements as recommended by the survey.

Income multiples are up to 3.25 times principal income plus second or 2.6 times joint.

The arrangement fee of £295 is debited to the mortgage account. There are no redemption penalties. N&P also offers a carbon neutral mortgage for buyers of newly built homes with a 1.25 per cent discount off the SVR for four years.

Recommended

Allied Irish Banks cancels internet bank plans

Allied Irish Banks has announced it is scrapping plans to establish a stand-alone internet bank, citing the failure of other internet banks as its reason. It says the market is not big enough to support stand alone banks and instead it will expand its existing internet presence instead. AIB head of electronic banking Billy Andrews […]

The future is about flexibility

Borrowers are becoming more educated and choosy when it comes to mortgages – but they still rely on IFAs to close the deal.The internet has made it easier for borrowers to research different types of mortgages and they are now looking for products that cater for specific needs. But they are still turning to IFAs […]

Fund firms won&#39t fare well if the 1% cap is extended

It is rare that a trade association leaps to the defence of the Government but that is just what Autif has done over stakeholder.Autif&#39s director general Philip Warland has hit out at his ABI equivalent, Mary Francis, for criticising the Government&#39s involvement in the product&#39s design.The division of opinion is hardly surprising. The fund management […]

Teachers Building Society – Teachers Building Society Fee Free Remortgage Plan

Tuesday, 24th October 2000.Type: Discounted rate mortgage for remortgages.Discounted term: Four years.Discount: Year one – 2.25 per cent, year two &#45 1 per cent, years three and four &#45 0.25 per cent.Payable rate: Year one &#45 5.24 per cent, year two &#45 6.49 per cent, years three and four &#45 7.24 per cent.Minimum loan: £30,000.Maximum […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment