Atom bank has introduced a discount on its commercial mortgages for properties with higher energy efficiency ratings.
The ‘Better Buildings’ discount is available to properties with either an EPC rating of at least B,or Building Research Establishment Environmental Assessment Method (BREEAM) rating of at least ‘Very Good’.
Properties with an EPC rating of A+/A or a BREEAM rating of ‘outstanding’ or ‘excellent’ will be eligible for a 0.25% discount. Alternatively, a 0.10% discount is available for those with an EPC rating of B or a BREEAM rating of ‘Very Good’.
Only one discount can apply to an application. For applications covering multiple properties, any discount will be assessed on a portfolio-wide basis.
More than 70% of the portfolio’s total value will need to meet the criteria for the qualifying discount band.
A field has been added within the application form for brokers to add EPC or BREEAM ratings for the relevant properties.
The efficiency rating needs to be shown at the point of application and will then be verified at the valuation stage.
Atom bank head of business lending Tom Renwick commented: “With the introduction of our Better Buildings discount, Atom bank is not just helping to drive positive change; we’re actively rewarding it. We’ve ensured that the best rated properties will benefit from our most competitive rates, regardless of whether they have an EPC or BREEAM rating.”
