Shawbrook Bank

Shawbrook offers energy efficient discount for new BTL customers




Shawbrook Bank has announced it will offer discounts to new BTL mortgage customers with properties that have an EPC rating between A-C.

New customers will be able to obtain an energy efficiency discount on their arrangement fee of up to 60 basis points when an EPC is produced confirming the property’s rating of C or above.

For new mortgages on properties where the EPC rating improves to at least a C during the mortgage term, customers can apply for a partial refund of their arrangement fee, plus the cost of the new certificate (up to £100).

Those who wish to purchase an investment property rated D or below can use one of Shawbrook’s unregulated bridging products to improve the energy efficiency of the property, before transitioning to a BTL mortgage — if the property is improved to a minimum EPC rating of C, then the customer will benefit from the energy efficiency discount.

The incentive is part of Shawbrook’s commitment to support landlords to improve their properties’ energy efficiency ahead of current proposals from the UK government, which will require all rental homes to have an EPC rating of C or above by 2025 for new tenancies and 2028 for all tenancies.

Emma Cox, MD of real estate at Shawbrook (pictured above), said: “At Shawbrook, we are committed to helping landlords become more energy efficient and actively contributing to a greener future. 

“This product enhancement not only incentivises landlords to improve the EPC rating of their property, but it also actively rewards customers when a dwelling already has a high energy efficiency rating. 

“By showing proactivity now, landlords will be in a strong position for the future and one step ahead of the upcoming changes to EPC regulations.

“From the EPC research we conducted earlier in the year and the roundtable we hosted with leading industry figures, we have been able to understand just how significant these policy changes could be for the market. 

“We’ve listened to landlords and brokers to identify what is needed and where we can make a real difference, and this product enhancement is just the first in a long line of developments and innovations we will be making to continue supporting landlords.”

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