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Designed for…
Non-structural and modernisation works which can be signed-off under the Competent Persons Scheme, without the need for building controls sign-off. The works must collectively improve the EPC rating to C or above

Examples of acceptable works
  • Replacement floor coverings
  • Painting & decorating
  • Replacement fixtures & fittings
  • Replacement internal doors
  • Minor repairs
  • Replacement heating systems
  • Improved insulation
  • Full rewiring
  • Replacement windows & doors
  • Replacement bathrooms & kitchens
  • Integral garage/loft conversion to habitable space (roofline must not be affected)
  • Conversion of C3-dwelling to Shared house/C4-HMO
  • Replacement roof coverings
  • Non-load bearing internal re-configuration
Cost & timeframe
  • Cost of works: No more than 25% of the pre-works value
  • Timeframe: Up to 90 days from initial mortgage advance
Pre-works status
  • Property does not need to be lettable at point of initial mortgage advance.
  • Minimum EPC rating: E
Retention

A retention will be held between the pre-works and post-works value and market rent for up to 120 days from initial mortgage advance.
The retention will be released upon confirmation by a Valuer Reinspection of full completion of works as defined within the agreed schedule and of the post-works value and market rent.
If the property is not lettable at the point of reinspection the retention will continue to apply for up to 120 days from initial mortgage advance.

ICR
  • Individuals
    • Basic Rate: 125%
    • Higher Rate: 140%
  • Limited Company/LLP: 125%
  • Assessment Rate:  Pay rate
 EPC IMPROVEMENT 

For Individuals

5 Year Fixed Term

LTVRateFee
75%4.96%2.5%
  • ICR: Pay rate
  • Revert Rate: BBR+ 4.50%*
  • ERC%: 5/4/3/2/1
 EPC IMPROVEMENT 

For Ltd Companies/LLP

5 Year Fixed Term

LTVRateFee
75%4.96%2.5%
  • ICR: Pay rate
  • Revert Rate: BBR+ 4.50%*
  • ERC%: 5/4/3/2/1
 EPC IMPROVEMENT 

For Small HMO/MUFB

5 Year Fixed Term

LTVRateFee
75%5.15%2.5%
  • ICR: Pay rate
  • Revert Rate: BBR+ 4.50%*
  • ERC%: 5/4/3/2/1

* Bank of England Base Rate (BBR): 1.75% correct at time of publication

* Required field. 
    Maximum LTV & loan limits apply. 
    Subject to criteria and full underwriting.