Atom financial institution has launched a discount on its commercial mortgages for properties with greater power effectivity scores.
The ‘Better Buildings’ discount is on the market to properties with both an EPC ranking of no less than B,or Building Research Establishment Environmental Assessment Method (BREEAM) ranking of no less than ‘Very Good’.
Properties with an EPC ranking of A+/A or a BREEAM ranking of ‘excellent’ or ‘glorious’ might 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 utility. For functions overlaying a number of properties, any discount might 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 utility type for brokers so as to add EPC or BREEAM scores for the related properties.
The effectivity ranking must be proven on the level of utility and can then be verified on the valuation stage.
Atom financial institution head of enterprise lending Tom Renwick commented: “With the introduction of our Better Buildings discount, Atom financial institution isn’t just serving to to drive optimistic change; we’re actively rewarding it. We’ve ensured that the most effective rated properties will profit from our best charges, no matter whether or not they have an EPC or BREEAM ranking.”
