Energy-conscious landlords offered cashback on new loan deals

A specialist business bank is strengthening its proposition for portfolio landlords with a new Green Reward cashback offer.

Redwood Bank, based in Letchworth, is keen 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.

Gary Wilkinson, CEO and CoFounder, 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 be calculated as

• A-rated property –0.5 per cent of the loan value;

• B-rated – 0.4 per cent; and

• C-rated 0.2 per cent.

“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.”

Rishi Sunak recently withdrew his plans to impose a minimum C rating – up from the current E rating – for all new tenancies from April 1, 2025.

For further information, visit www.redwoodbank.co.uk