Atom bank has launched a discount on its industrial mortgages for properties with higher power effectivity ratings.
The ‘Better Buildings’ discount is on the market to properties with both an EPC ranking of at the least B,or Building Research Establishment Environmental Assessment Method (BREEAM) ranking of at the least ‘Very Good’.
Properties with an EPC ranking of A+/A or a BREEAM ranking of ‘excellent’ or ‘wonderful’ will probably be eligible for a 0.25% discount. Alternatively, a 0.10% discount is on the market for these with an EPC ranking of B or a BREEAM ranking of ‘Very Good’.
Only one discount can apply to an software. For purposes masking a number of properties, any discount will probably be assessed on a portfolio-wide foundation.
More than 70% of the portfolio’s complete worth might want to meet the factors for the qualifying discount band.
A area has been added inside the software type for brokers so as to add EPC or BREEAM ratings for the related properties.
The effectivity ranking must be proven on the level of software and can then be verified on the valuation stage.
Atom bank head of enterprise lending Tom Renwick commented: “With the introduction of our Better Buildings discount, Atom bank is not only serving to to drive constructive change; we’re actively rewarding it. We’ve ensured that the perfect rated properties will profit from our best charges, no matter whether or not they have an EPC or BREEAM ranking.”
