It aims to help brokers with clients looking to improve their properties' energy efficiency
Precise Mortgages, a specialist lender within the OSB Group, has relaunched its energy efficiency refurbishment buy-to-let product range to help support brokers with landlord clients who are looking to make improvements to their properties’ energy efficiency rating.
The range includes three exit solutions that offer rate incentives based on the type of refurbishment work being carried out. These are:
- Standard refurbishment - refurbishment work to make a property habitable, such as installing a new kitchen or bathroom, with rates from 5.79%
- Energy efficiency refurbishment - refurbishment which includes some element of energy efficiency, such as fitting a new boiler or double glazing, with rates from 5.69%
- EPC C+ refurbishment - refurbishment of a property that already has an EPC rating of ‘C’ or above, or is awarded a ‘C’ rating as a result of the improvement work, with rates from 5.59%
📣 JUST ANNOUNCED 📣
— Precise Mortgages (@Precise_Mtgs) March 9, 2023
We've relaunched our refurbishment buy to let proposition, with a choice of three exit products focused on the type of work being carried out.
For intermediaries only.
See https://t.co/yI1kDJ44rW pic.twitter.com/zIBjTnjuRO
“As the cost-of-living crisis continues to impact, it’s crucial for specialist lenders such as Precise Mortgages to support with solutions that could help improve living standards within existing housing stock as well as help reduce energy costs,” Adrian Moloney (pictured), intermediary director at OSB Group, commented. “Although we are waiting on a clear steer regarding EPC ratings from the government, we do know that it’s likely we’ll see further impact to the rental sector around energy efficiency.
“Based on findings from our Landlord Leaders Report, 80% of professional landlords told us that they already have or plan to invest in energy efficiency improvements. It’s important for us, as a leading specialist lender, to support brokers and their clients with products that can assist with financing these improvements.”
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