Castle Trust Bank has launched a bridging product aimed at landlords and property investors carrying out works to improve the energy efficiency of rental properties.
The new EPC Uplift Bridge is priced at 0.69% per month and is available where refurbishment works are focused on improving a property’s Energy Performance Certificate rating to between A and C by the end of the loan term.
The product is available up to 75% net day-one loan-to-value and up to 75% loan to gross development value.
Loans are available from £200,000 to £1m, with a maximum term of 12 months, rolled-up interest and a refinance exit strategy.
The facility can be used for non-structural refurbishment works, with a maximum works cost of £100,000.
Castle Trust Bank said the product had been designed to support landlords looking to carry out energy-efficiency improvements ahead of future regulatory deadlines and as part of wider refurbishment plans.
Anna Lewis, commercial director at Castle Trust Bank, says: “Improving the energy efficiency of rental property is becoming an increasingly important consideration for landlords and investors.
“While the 2030 deadline may still feel some way off, brokers have an opportunity to help their clients think ahead and identify the right moments to carry out improvements, particularly when a property is vacant or already being refurbished.
“Our new EPC Uplift Bridge has been designed specifically to support this type of project. It provides short-term finance at a competitive rate for landlords who want to act early, improve the quality and efficiency of their properties, and future-proof their portfolios.”
