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A BTL mortgage provider has pledged to invest £50 million in a fund to help landlords enhance their property’s energy efficiency.
OSB Group will channel the cash through its recently launched Landlords’ Leaders Forum into initiatives including the launch of new products to support landlords with refurbishing their properties, redesigning the underwriting process, and partnering with tax specialists to provide advice and guidance on tax planning for part-time landlords looking to professionalise.
Its Landlord Leaders community also aims to bring brokers, landlords and other industry members together.
It follows the relaunch of its energy efficiency refurbishment buy-to-let product range through the group’s Precise Mortgages brand, aimed at landlords looking to make improvements to their properties, with an additional incentive for upgrades that improve the energy efficiency rating.
EPC minimum
The group reveals that 40% of its properties have an EPC of C or better, 45% have an EPC of D, and 13% have an EPC of E with negligible percentages in F or G. More than 90% of the properties supporting the group’s loan portfolios have the potential to have at least an EPC rating of C.
The lender says there is room for support and improvement and its research shows that landlords are looking to the state to step up, with many wanting a national government-backed fund to finance changes (32%) and more clarity from government (31%).
Jon Hall, (pictured) group MD for mortgages & savings, says the shift to a more environmentally friendly housing stock won’t be fixed by single products with green labels or by one-off property improvements.
He adds: “The solutions to the challenges ahead lie in a holistic, cross-industry approach, focused on improving the lived experiences of tenants and the impact the housing has on both society and the environment.”
Read more about EPCs.
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