Landlords with good EPC ratings get better mortgage deals

Suffolk Building Society has announced the launch of a new five-year fixed expat buy to let product for properties with an Energy Performance Certificate rating of A to C. 

It’s just the latest of a slew of buy to let products from a wide range of lenders aimed exclusively at landlords with good EPC properties, or giving favourable rates for those landlords.

The new Suffolk product is available on both purchase and remortgage cases for expat landlords.

The catalyst for the new product is the government’s proposed requirement for all newly rented properties to have an EPC rating of C or above by 2025, followed by all existing tenancies by 2028.

In a statement launching the product Suffolk Building Society says it “is committed to driving positive change in the housing market and hopes that in launching this new product, it will increase awareness of the need for landlords to comply with the new legislation coming into place soon.”

Charlotte Grimshaw, head of intermediary relations at Suffolk Building Society, says: “Expat landlords are likely to be less aware of the forthcoming changes than landlords who are based in the UK. We want to support expat landlords who are looking to purchase or remortgage a BTL property with an EPC rating of A-C. This is ahead of the changes in legislation coming in 2025.”

The product is a five year fixed expat Buy to Let mortgage at 6.15 per cent fixed for 60 months for properties with an EPC of A-C. It has a maximum LTV of 80 per cent, a minimum loan size of £75,000 and maximum loan size of £1m. There is an application fee of £199 and a completion fee of £1,499.

Grimshaw continues: “We’re well known for our expat lending, so we’re pleased to be able to offer a five-year fixed product that aligns with and takes future legislation into account. Indeed, helping to provide safe homes for people throughout the UK is an objective of the Society.

“We hope this product helps to support expat BTL landlords with their purchase and remortgage of an energy efficient property, and that this, in turn, could help renters looking for similar homes.

“We will continue to offer other buy to let products for expat landlords whose properties aren’t A-C at present. We will also be launching other products in the future which will help support landlords wanting to improve their BTL EPCs through home improvements.”

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