Bilal Ahmed

Offa launches new product for A-C rated BTL properties

Sharia-compliant bridging provider Offa has introduced a reduced rate, short-term finance product designed specifically for BTL properties with an energy performance rating of A to C.

Energy Performance Improvement Capital (EPIC) aims to encourage landlords to invest in energy-efficient properties and increase the proportion of A-C rated properties in the private rented sector (PRS).

Offa’s new rates start from 0.49% for purchase and re-bridge, is available up to 75% LTV with maximum terms of 12 months, and includes free valuations. 

“Landlords have made great strides in adding more energy-efficient homes to the PRS or upgrading properties to C or above standard over the past decade,” said Bilal Ahmed, CEO of Offa (pictured above). 

“However, more needs to be done as the government moves towards its net zero carbon target by 2050 — and landlords have a key role to play in that.

“If landlords are to improve the energy efficiency of their BTL stock, they may need the short-term finance to enable them to do so. 

“Making sure there are attractive options, while recognising the efforts to upgrade existing properties, is an important element of this.”

Offa operates in accordance with recognised universal Islamic and ethical financing principles and provides commercial, residential, refurbishment and planning bridging loans, as well as development finance.

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