I must admit I for one am adamantly opposed to render below the DPC, Because.
Rising ground water is causing the external brick below the DPC to be almost constantly saturated, this in turn in winter caused the faces on some brick to spall off, this because of the water held in the brick freezing in winter, and being close to ground level. Freeing water is OK but when the frozen water thaws there is an up to 75% expansion in volume, which in turn causes the faces of weak porous bricks to simply be pushed off, at the same time the mortar fails following the constant bombardment of the elements.
The bricks below the DPC are also subject to internal pressures from the condensation and any rain water getting through the external leaf of the wall, which then runs down the inner surface of the external leaf lands on the inner surface of the external leaf below DPC.
As regards the last points, water droplets formed on the inner surface of the external leaf can evaporate into the Cavity, that is OK for the wall above the DPC, but if you think about it? the volume of ventilation at the foot of the cavity wall will be minimal. Obviously, if the cavity has been filled with Insulation this = No evaporation of moisture from the inner face of the external leaf, thus exacerbating the volume of water reaching the bricks below the DPC.
If you consider things so far, the below DPC bricks are permanently assailed with moisture from below, the rising ground water, internally as discussed above, and also saturation externally, all the rain hitting this area of brick + rain water hitting the wall above the DPC and running down on to the bricks below the DPC.
If you consider Retro-fitting Render to the brick below the DPC you will place another barrier to prevent the rising ground water and any water from the Cavity from evaporating the only way it can, externally by the passage of wind over the face of the bricks below the DPC.
There are further considerations as regards the Retro-Fitting of a render, such as applying a cement based render to a saturated surface?
How do you stop in the long term rain water entering between the brick below the DPC and the Retro-Fitted render and stop, minimise the Freeze / thaw cycle that will crack up the render?
As you can see, the TV is seriously crap tonight, hence my musings.
Ken