Special real estate lender Glenhawk has brought out an EPC boost incentive that will offer an end-of-term discount for borrowers doing light or medium refurbishment to improve the EPC rating of a property.
The lender said that borrowers can secure a discount of up to 0.25 per cent if borrowers improve to an EPC rating of C, or 0.5 per cent for an EPC rating of B or higher.
The discount will be available across its unregulated refurbishment product range, for residential assets and commercial to residential conversions until 31 May 2023.
Glenhawk said that the introduction comes amidst changing regulations, which could mandate landlords’ properties to achieve an EPC rating of C or higher by 2023 for new tenancies and private tenancies by 2028.
Although the legislation has yet to become law, compliance with minimum rating requirements will be “essential” for landlords and investors “seeking to maximise capital and rental values at the point of letting or sale”.
Michael Clifford, commercial director at Glenhawk, said: “The UK has the oldest housing stock in Europe, which poses a significant challenge for landlords and property owners.
“Given real estate’s well-publicised carbon footprint and the UK’s ambitious net zero targets, lenders like ourselves have an obligation to support borrowers in improving the energy efficiency of their properties.”
He added: “Aligned with our institutional backers, this is just the latest step on our sustainability pathway, with a more formalised product offering targeted for later this year.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.