Redwood Bank is offering a new Green Reward cashback offer to portfolio landlords.
The bank says it wants to support landlords who have already achieved EPC ratings of A-C. Any new loan deals completed on properties in these top three EPC ratings will be given a cash refund of up to 0.50% of the loan value.
The cashback will be calculated as:
- A-rated property – 0.5% of the loan value;
- B-rated – 0.4%;
- C-rated 0.2%.
Gary Wilkinson, CEO and co-founder at Redwood Bank, said: “Although the government’s plans to impose minimum EPC standards have been halted, there is growing pressure on landlords to make their properties more energy efficient. We want to be able to reward those customers who have attained the highest standards.
“The cashback will provide those landlords, looking for a new loan, who are energy-conscious, but are not yet at the most energy efficient level, an incentive to attain an improved EPC rating. We want to support those customers who have completed energy efficiency improvements and have the highest ratings of A-C.
“We feel that in the current economic climate, receiving a cash lump sum would enable customers to be able to put this to an immediate use as they see fit for their business. In some cases, the reward may aid customers looking to improve the EPC ratings of other properties in their possession.
“We have always supported SMEs and this is just another way we can help alleviate some of the pressures businesses are currently facing.”
