For new loans on properties with an EPC rating of A-C, Redwood Bank will give borrowers a cash refund of up to 0.5% of the loan value.
The ‘green reward’ cashback offer aims to compensate landlords for making their properties more energy efficient.
• 0.5% of loan value for EPC A-rated
• 0.4% of loan value for EPC B-rated
• 0.2% of loan value for EPC C-rated
Gary Wilkinson, CEO and co-founder of Redwood Bank (pictured above), 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 feel that in the current economic climate, receiving a cash lump sum would enable customers to be able to put this to 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.”
