Virgin has revamped the Retrofit Boost Mortgage Range and is currently offering up to £10,000 cashback to its customers, improving its energy efficiently.
Following feedback from brokers, lenders no longer offer 7- and 10-year retrofit boost options, offering higher cashback amounts. However, the five-year fixed-rate retrofit boost provided increased the amount of cashback available
The range is available to new home & BTL customers with loan sizes ranging from £150,000 to £500,000 and offers a five-year fixed fee range with cashback of £5k, £7k and £10k.
Cashback will be paid to the carrier upon completion of the mortgage
Retrofit Boost is the range of five-year fixed-rate mortgages. They give customers cashback to help improve their homes. These include insulation or solar panel installation, battery storage, or heat pump properties.
Rates will be higher than the virgin core range in the first five years in exchange for cashback. The borrower can now switch to one of the core products.