The Mortgage Works (TMW) has called for EPC regulations to focus on the least energy efficient properties first, rather than expecting all properties to reach a C rating by 2030.<\/p>\n
TMW recommended for the initial requirement to be for EPC E properties to be upgraded to EPC D by 2030.<\/p>\n
Requirements could then shift to EPC D properties with the aim of all rental homes meeting the EPC C target by 2033 or beyond.<\/p>\n
The lender also disagreed with the government\u2019s national cost cap on how much landlords should spend on improvements, arguing that \u00a315,000 is too high.<\/p>\n
Dan Clinton, head of buy-to-let at The Mortgage Works, said: \u201cStriking the right balance between environmental progress and housing stability is crucial.<\/p>\n
\u201cTo safeguard continued investment and protect tenants from higher rents or reduced supply, landlords need clear guidance, adequate support, and sufficient time to make their properties greener.\u201d<\/p>\n
Nearly two thirds (62%) of landlords are unaware that having an EPC is a legal requirement, The Mortgage Works\u2019 buy-to-let report shows.<\/p>\n
When it comes to the proposed requirements and what the energy efficiency requirement will be by 2030, only one in three (33%) knew it was a C rating.<\/p>\n<\/p>\n
Nearly three quarters (73%) of landlords also don\u2019t know the proposed dates when the new regulation comes into force \u2013 leaving many at risk of taking no action with five years to go before the new rules take force for all rental properties in England and Wales.<\/p>\n
Clinton added: \u201cChanges to Minimum Energy Efficiency Standards have been under discussion for some time but our research shows limited landlord awareness with some looking to exit the market.<\/p>\n
\u201cPolicymakers should recognise the vital role landlords play in supporting economic growth through labour mobility and for providing homes to low-income households.<\/p>\n
\u201cImproving the energy efficiency of private rented homes is important but the significant logistical and financial challenges of upgrading 2.5 million properties must be acknowledged.\u201d<\/p>\n
More than half (54%) of landlords looking to improve their property are waiting until the end of the government consultation or when the minimum energy efficiency requirements become law before taking action.<\/p>\n
It\u2019s likely mass inaction will exacerbate the reliance on trades and materials should government force a short implementation period.<\/p>\n
The Mortgage Works is the buy-to-let mortgage lender of Nationwide Building Society.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Mortgage Works (TMW) has called for EPC regulations to focus on the least energy efficient properties first, rather than expecting all properties to reach a C rating by 2030. TMW recommended for the initial requirement to be for EPC E properties to be upgraded to EPC D by 2030. Requirements could then shift to […]<\/p>\n","protected":false},"author":1,"featured_media":899,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-898","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-second-home"],"yoast_head":"\n