Paragon Bank has relaunched its buy-to-let green product range, introducing preferential pricing for energy efficient properties across its entire standard product offering.

A green version is now available for every standard buy-to-let product, with a 10 basis point pricing reduction for properties with an Energy Performance Certificate (EPC) rating of A to C.

Paragon’s green offering has also been extended to all property types, including single self-contained properties (SSC), houses in multiple occupation (HMO) and multi-unit blocks (MUBs), having previously been restricted to SSCs.

The relaunch of the green range is part of a wider refresh of Paragon’s buy-to-let product range, with 80% loan-to-value (LTV) products reintroduced across standard products.

Paragon has also amended its Portfolio range so that the same rates are available for both single self-contained properties, HMOs and MUBs.

Rates on the Portfolio product range start from 2.95% for 70% (LTV) products, rising to 3.05% at 75% LTV and 3.99% at 80% LTV. All products come with free valuation and a mix of either cashback or no application fees.

Richard Rowntree, Paragon Bank Director of Mortgages, said: “We have strengthened our green proposition to encourage landlords to add more energy efficient properties into the private rented sector (PRS). The energy efficiency of the PRS has improved significantly over the past 10 years, but we know more needs to be done as the UK moves towards a carbon zero target.

“The first step is encouraging changing buying behaviour so that more properties with EPC A-C are added to the sector. The next, more challenging, step will be to upgrade existing homes in the PRS and we are looking at numerous ways we can help our landlord customers to achieve that. This is a complex area but it’s something we must all address.”

In other Green news, The Daily Express yesterday headlined that EPC assessor, Elmhurst Energy, reportedly showed that replacing a condensing gas boiler with a heat pump in a detached home would actually decrease the property’s EPC score by three points from 63 to 60.