BM Solutions Product Refresh: Lender Announcement
Collection of Energy Performance Certificate ratings
Lloyds Banking Group has committed to reduce carbon emissions we finance by 50% by 2030. We are also supporting the government ambition for all homes to have an Energy Performance Certificate (EPC) rating of C or above by 2035.
From Monday 13 February, BM Solutions will be introducing the capture of EPC ratings on new business applications, including transfer of equity (TOMP).
We will use the EPC details captured to automatically check eligibility (Properties rated A-C) for any Green product chosen, or to flag that a Green product has not been selected when the EPC indicates eligible. We will also stop applications at full application that have a rating of F or G.
When property details are completed on the application, we will display the latest EPC record from our database which is based on the Government EPC register. If the latest EPC details are not showing you will need to key details of the EPC and upload proof for us to check.
Properties that have a registered exemption from having to meet Minimum Energy Efficiency Standards (MEES) will need to be keyed as ‘Exempt’. The valuer will check the register and we will only contact you for a copy of the exemption if not on the register.
As we will not be checking eligibility until full application, care must be taken to select the correct product code at Decision in Principle stage. Green products which will start with ‘G’ can be selected where the EPC rating is A, B or C. Validation of the product will be done prior to full application submission and you will receive an on screen message asking you to rekey the quote and produce another illustration if the property EPC rating is not eligible for the product selected.
The website Criteria section will be updated.