13 Sep 2024
Virgin Money & Hive Launch Retrofit Boost “Green” Mortgage
In July, Virgin Money introduced a new mortgage product called the Retrofit Boost Mortgage with the aim to help homeowners improve the energy efficiency of their home by offering cashback between £3,000 and £15,000.
What is the Retrofit Boost Mortgage?
Virgin Money, in partnership with Hive Energy are offering customers between £3,000 and £15,000 cashback to spend on making their homes more energy efficient. This new product is an option for customers looking to lower their living costs and futureproof their homes. Lowering energy bills and making home improvements could help to boost the value of their property.
Products available
|
Product |
Cashback |
|
Five-year fixed |
£3,000 |
|
Seven-year fixed |
£10,000 |
|
Ten-year fixed |
£15,000 |
You can borrow between £150,000 and £500,000 and it is available to residential and buy-to-let for both purchase and remortgage. It’s worth noting that the interest rates on the Retro Boost Mortgage products are higher than Virgin’s other products to compensate for the cashback they are providing.
Home improvements
Improvements allowed can vary and include adding solar panels to your roof and installing a heat pump. The improvements you choose to make will depend on how much cashback is available but there are lots of options available.
This mortgage product is only available through intermediaries and the team at Mortgage Required would be happy to talk through whether this is the right option for you.
Recent posts
We look at why mortgage rates increased following the Bank of England's choice to reduce the bank rate, and should you fix now?
UK 2024 Autumn Budget: Housing
17 days ago
On 30th October 2024 the Chancellor, Rachel Reeves delivered the Autumn budget which we had previously been warned would be “difficult”. Below we have summarised the main housing points.
Talking about money with kids
24 days ago
In an increasingly cashless society, money is an intangible concept for children to grasp. In the days of coins and notes, kids could see money as something physical you require to purchase goods and services.
In order to help teach your children about money, we have listed some tips below;
Labour Autumn Budget Predictions: Housing
18 Oct 2024
The UK’s chancellor, Rachel Reeves will deliver the Labour government’s autumn budget at the end of the month, we take a look at what could be announced in relation to housing.
Recent research from Halifax has revealed the most sought-after locations for first time buyers in Britain.
The data which was taken from the Halifax House Price Index looked at areas outside of London where those looking to purchase their first property were buying. Despite high property prices and increased rates, these first time buyer hotspots have remained popular.
How can I look after my mental health?
7 Oct 2024
Taking care of your mental health means looking after your emotional, psychological, and social wellbeing. There are several ways we can practice self-care that will help to improve our physical and mental health. This can help to reduce our risk of illness, manage stress, and boost our energy levels!
First Time Buyer to do List
4 Oct 2024
Buying your first home is very exciting but it can also be very daunting which is why we have set out a “to do list” to help you get started.
Bank of England Holds Base Rate at 5%
20 Sep 2024
With UK inflation remaining at 2.2% which is slightly above the Bank of England’s 2% target, the decision was made on Thursday 19th September to keep the base rate at 5%.
More information
Trusted by
