The EPC Property Improvement Loan is available to the Bank’s existing customers and is designed to help residential landlords update their property portfolios with energy saving solutions in order to improve the Energy Performance Certificates of the properties they own.
The new product is a further advance to existing loans, providing borrowing from £20,000 to £500,000.
Energy Performance Certificates
An Energy Performance Certificate (EPC) gives each property a Standard Assessment Procedure (SAP) rating. This provides a property with an energy efficiency rating from A (most efficient) to G (least efficient) and is valid for 10 years.
An EPC also contains:
information about a property’s energy use and typical energy costs
recommendations about how to reduce energy use and save money
Cynergy Bank EPC Property Improvement Loan
Key features:
Borrowing amount of £20,000 to £500,000 per portfolio
Variable rate of interest
No early repayment charges
Competitive arrangement fee – 1.5%
No additional security requirements
Eligibility:
The borrowing can only be used for existing residential property that is secured under an existing Cynergy Bank loan
100% of the borrowing will be used for the purpose of making energy efficient improvements
You will have received development quotes to complete the work and these quotes match the borrowing amount you have requested (please note that for borrowing requests above £50,000 we will ask you for physical evidence of the quotes to support your application)
The work will take the properties to at least the minimum MEES standards (C and above)
A valid EPC C+ certificate for each property is required 12 months after drawdown of the loan
Eligibility is subject to approval. Terms and conditions apply.
Please note as part of the application process we will ask you to self-attest to the above requirements.
How to apply
If you would like to discuss this product, please contact your Relationship Manager.