Enhanced mortgages for renovating or converting a property to let attaining green ratings

Notice: Regular property investors & BTL landlords now using this product to purchase and renovate cheap property purchased at auction requiring renovation to be let. No other mortgage products in the current market offer the LTV or attractive interest rates. Use our mortgage quote tool for this product or give us a call.

Renovate to let for Self Build, Conversions and Renovations

 Mortgage for Energy Efficient Homes

Borrow 70% of the purchase price or unrenovated valuation at just 4.95% (Base rate tracker)

Additional drawdown to cover development costs based on the ongoing renovated valuation

70% Mortgage funding now available for renovations and conversions on property to be let

• Purchase derelict, dilapidated and run down properties for renovation or conversion.
• Property may be uninhabitable or requiring renovation at time of purchase.
• Mortgage funding up front on the unrenovated condition of the property.
• Drawdown of additional funds as work progresses to cover renovation costs.
• Further drawdown of up to 70% of the final property valuation after 6 months of purchase date.

The developed property should achieve green standards and energy efficiency rating level 3 minimum rating Code for Sustainable Homes (CSH)  View guide

General lending criteria:

Any Uninhabitable, derelict or run down property. Or even self-build on land.

Proof of income: Applicant must be employed or self employed, although the affordability for the mortgage is actually based on the final rental value of the property.

Lenders Arrangement fee is £350

Early redemption charges: 3 months interest in the first 4 years if mortgage is redeemed

Portable: Yes, the mortgage is fully portable to your next property.

Loan To Value: 70% of Purchase price or value and up to 70% on the final property value

Other property types accepted:

 Flat over shop

 Thatched roof

 Timber framed construction

 agricultrial tie

 Shared ownership

 Council flat

 Underpinned property

 Flying Freehold

 More than one kitchen

 Steel Framed construction

 Local authority house

 Cob wall

 Sustainable materials such as straw bale or rammed earth

 Barn, Church & Chapel, Mills, Lighthouse Conversions

 Self Builds & 'Grand designs' Renovations

 Below ground Self Builds

If you have any queries or questions on if your project will fit this funding product, please do give us a call or enquire online

Interest rates for this 'Green' Renovation mortgage:

The interest rate for this mortgage really is very good. Rates are as low as 4.20% when applying maximum discounts for energy ratings.  And the nominal rate is just 4.95% for homes achieving at least Level 3 (57 points) as defined by the CSH. 

Call us today to find out more about this mortgage. Freephone 0800 4969595

Use our Eco Renovation Mortgage Calculator for Instant Online Quotes.

The level 3 energy rating to qualify for the eco renovation mortgage is really not that difficult to achieve. You don't have to invest in solar panels or other costly renewable energy systems!

Level 3 measures may include:

Quality Loft and floor insulations

Air tightness measures - sealing floorboards and cracks that allow draughts to circulate.

Cavity wall insulation

Double or triple glazing ( new installations in wood frame, existing can be in UPVC)

Energy Efficient boiler

Grey water recycling / rainwater collection

Low & Dual flush WC

Energy efficient lighting

Energy efficient white goods

Not interested in going green? Other property refurbishment mortgages:

If going green does not fit your business plan, then the next best mortgage on the market today that will allow un-retained mortgage funds to purchase a run-down property to renovate, would offer a maximum lend of up to 75% of the purchase price and renovated valuation. There are no requirements for the property to achieve a green energy efficiency standard. This mortgage is good for structurally sound properties needing cosmetic make over such as a kitchen/bathroom refit and general modernisation. The down side is that its limited to 75% (85% was not a problem pre credit crunch) with interest rate currently at bank base + 2.5%. The good side is that it is a true self cert with no proof of income, or proof of rent. And its portable to the next project. Find out more here. or give us a call to discuss your property funding with us.   We also have a 95% self cert mortgage for self build, renovations and conversions for main residence only.

What are the energy ratings?

Your property should achieve at least level 3 as defined by the Code for Sustainable Homes.

View/Download CSH technical guide

View/Download Energy Efficiency and the Code for Sustainable Homes Level 3 (CSH Level 3) Pdf  Here

In general level 3 can be achieved through installing energy efficient measures such as loft insulation, increased insulation measures, improved thermal bridging or air tightness, improved heating system efficiency. Major white goods appliances to be 'energy-saving recommended'.

Factors to help minimise energy loss and energy consumption with energy efficiency and renewable energy systems:

Installing floor, wall and roof insulation

Installing double or triple glazing not upvc

Installing energy efficient appliances

Installing a condensing boiler

Solar water heating

Ground source heat pumps

Biomass heating

Photovoltaics

Grey water recycling systems

Water saving WC's

Passive heating & storage techniques

Thermal Insulation

Rainwater harvesting systems

Using natural flooring surfaces

Recycle materials in the renovation process:

Use of reclaimed materials

Ecological materials

Natural Materials

Materials from sustainable resources