Precise Mortgages relaunches refurbishment buy to let product range

By Bridging Loan Directory 9th March 2023

Precise Mortgages, part of the leading specialist lender OSB Group, has today relaunched its energy efficiency refurbishment buy to let product range.

This range will help support brokers with their buy to let clients who are looking to make improvements to their properties, as part of their maintenance programmes, with an additional incentive for upgrades that improve the energy efficiency rating.

The range includes 3 exit solutions that offer rate incentives based on the type of refurbishment work being carried out.

The range has been designed to help brokers with clients looking to improve the standard of their assets and in turn provide better quality and improved energy efficient housing for their tenants.

• Standard refurbishment – Refurbishment work to make a property habitable such as installing a new kitchen or bathroom with rates from 5.79%

• Energy efficiency refurbishment – Refurbishment which includes some element of energy efficiency such as fitting a new boiler or double glazing with rates from 5.69%

• EPC C+ refurbishment – Refurbishment of a property that already has an EPC rating of C or above, or is awarded a C rating as a result of the improvement work with rates from 5.59%

Adrian Moloney, Group Intermediary Director, OSB Group, said:

“As the cost of living crisis continues to impact, it’s crucial for specialist lenders such as Precise Mortgages to support with solutions that could help improve living standards within existing housing stock as well as help reduce energy costs.

Although we are waiting on a clear steer regarding EPC ratings from the Government, we do know that it’s likely we’ll see further impact to the rental sector around energy efficiency.

Based on findings from our Landlord Leaders Report, 80% of professional landlords told us that they already have or plan to invest in energy efficiency improvements.

It’s important for us as a leading specialist lender to support brokers and their clients with products that can assist with financing these improvements.”