Virgin has revamped its Retrofit Boost mortgage range and is now offering up to £10k cashback for customers making energy efficient improvements to their properties.
Following feedback from brokers, the lender is no longer offer the seven and ten-year Retrofit Boost options, which offered the higher cashback amount. But it has increased the cashback amount available on its five-year fixed rate Retrofit Boost offering
The range is available for new residential & BTL customers with loan sizes of £150k – £500k and offers a range of five-year fixed-rate options with cashback of £5k, £7k and £10k.
Cashback is paid to the conveyancer at mortgage completion
Retrofit Boosts are a range of five-year fixed rate mortgages. They give customers cashback to help them with home improvements. These include installing insulation or solar panels, battery storage, or heat pumps to their properties.
Rates are higher than Virgin’s core range for the first five years, in return for the cashback. The borrower can switch to one of the core products after this point.
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