41% of landlords view EPC regs as important for climate emergency strategy

Published on

41% of landlords believe that, outside of legal obligations, new EPC requirements are important for the environment and will help the UK to tackle the climate change crisis, according to new research from Mortgage Advice Bureau.

A further 34% believe that upgrading their properties’ EPC ratings will have a net benefit to the UK’s carbon emissions targets.

The research findings are published as residential landlords await confirmation of proposed reforms to the Minimum Energy Efficiency Standard (MEES) regulation. Under the proposed changes, rental properties will need an EPC rating of at least C by 2028, with an earlier deadline of 2025 for new tenancies. Whilst 30% of landlords are confident they’ll reach the deadline with ease, 46% admitted it will be by the skin of their teeth as they retrofit properties.

Alongside landlords’ own desire to reduce their properties’ impact on the environment, tenant demand is also a key factor. 31% of landlords believe the upgrades will make their properties more attractive by lowering tenants’ bills.

Nearly one in five (17%) landlords have been asked if the property they are letting is energy efficient, and 16% have been asked specifically about the EPC rating. Looking at this in more detail, 17% have been asked whether they’ll be installing heating controls, 16% about installing a smart meter, and 15% on getting double or triple window glazing.

The costs of making all the necessary upgrades (27%) and finding a trusted tradesperson (27%) are both key concerns for landlords, alongside the disruption it may cause tenants (23%).

Ben Thompson, deputy CEO at Mortgage Advice Bureau, said: “Landlords seem to be working with a lot of information in terms of regulations and deadlines that aren’t quite set in stone, yet the 2025 countdown remains for EPC rating improvements. The good news is, many landlords are making progress, despite some challenges.

“There are some very clear and urgent motivations behind making this change. Tackling the ongoing climate crisis is at the forefront of many of our minds, and for landlords and the future of their portfolios, being able to help tenants navigate the economic climate of high energy bills is key.

“While many already have plans in place, concerns and an element of confusion remains. Exactly what landlords are working to, and by when, must be clarified as soon as possible, and this must be accompanied by support to help landlords improve EPC ratings.”

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Bridging completion times fall to eight-year low as speed regains priority

The average time taken to complete a bridging loan fell to 43 days in...

Accounts manager jailed after £767k theft from Newcastle panel management firm

A senior employee at Newcastle-based Pure Panel Management has been jailed after embezzling more...

Cambridge BS opens new funding round for local housing and homelessness projects

The Cambridge Building Society has opened applications for its Community Fund, continuing its commitment...

Assetz Capital expands development finance offering

Assetz Capital has updated its development finance proposition to allow planning gain and residual...

MIMHC offers free mental health first aid training

The mortgage and property finance sector is rolling out a series of free mental...

Latest publication

Other news

Bridging completion times fall to eight-year low as speed regains priority

The average time taken to complete a bridging loan fell to 43 days in...

Accounts manager jailed after £767k theft from Newcastle panel management firm

A senior employee at Newcastle-based Pure Panel Management has been jailed after embezzling more...

The mortgage protection gap advisers can’t ignore

The Financial Conduct Authority’s (FCA) consumer research findings published late last year, offered an...