Landlords avoiding necessary work for EPC ‘C’ rating

Published on

Despite the government ruling that all rental properties must have an Energy Performance Certificate (EPC) rating of at least a ‘C’ by 2030, over half of landlords with properties rated below this rating are putting off work to bring their properties up to scratch, according to a new survey from Landbay.

Meanwhile, a small number of landlords with properties rated below C are not planning to make any changes at all, even though they will continue to rent.

Buy-to-let lender Landbay’s survey found that 58% of landlords with properties currently rated below a C will wait until nearer 2030 to do the work, with only 18% saying they would do upgrades as soon as possible.

6% won’t make any changes at all even though they intend to continue renting.
Landbay’s survey revealed that just over a third of landlords, 35%, said their properties fell below C, with half being above C.

A landlord told Landbay: “I think the EPC ratings are somewhat unrealistic for most given that the council themselves also have properties in need of upgrades.”

The survey also showed that those landlords who had between 11 to 20 properties had the most properties rated between D to G at 36%. These were followed by landlords who had between four to 10 properties, at 27%.

Worryingly, just over 5% of landlords didn’t know what their EPC rating was.

Rob-Stanton-Landbay
Rob Stanton

Rob Stanton, sales and distribution director at Landbay, said: “It’s encouraging that half of our landlords have properties at C rating or above.

“But those landlords who don’t, and who are putting off upgrading their properties, need to be careful.

“Kicking the can down the road may mean that, with a national skilled worker shortage, landlords risk not getting the work done in time, They may face significant fines as a consequence.

“As a buy-to-let lender we are here to help should landlords need extra financing for upgrade work. Demand for decent rental properties already continues to outstrip supply, with many tenants ready and willing to rent across the country.

“We remain committed to doing our bit to help, innovating to meet the needs of landlords.”

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

Clydesdale Bank eases mortgage rules for foreign nationals

Clydesdale Bank has introduced a series of changes to their mortgage lending criteria, aimed...

The Coventry drops residential rates following stress test revision

Coventry for intermediaries has announced rate reductions across selected residential mortgage products, cutting rates...

Lenderhive launches to simplify access to green mortgages

A new digital mortgage brokerage, Lenderhive, has officially launched today, promising to simplify the...

Mortgage industry backing mental health charter with Thames trek

Professionals from across the mortgage and property finance industry will come together in September...

Barclays cuts 32 rates and unveils market-leading two-year fixes

Barclays has announced a wave of rate reductions across its residential mortgage range, with...

Latest opinions

Rachel Reeves rolls back mortgage rules: return to risk or reasonable reform?

Rachel Reeves is to roll back bureaucratic red tape introduced since the 2008 financial...

Reeves’ reforms are a welcome boost but the housing market must modernise

Rachel Reeves’ announcement marks a clear shift in housing policy, with measures that could...

What is the Protection Claims Charter – and how does it work?

The moment of truth for any insurance product is at point of claim. Insurers have...

Affordability reforms, housing ambition and the uncomfortable PRS truth

Let’s be clear: the FCA’s recent Discussion Paper (DP25/2) isn’t necessarily about buy-to-let lending....

Other news

Clydesdale Bank eases mortgage rules for foreign nationals

Clydesdale Bank has introduced a series of changes to their mortgage lending criteria, aimed...

The Coventry drops residential rates following stress test revision

Coventry for intermediaries has announced rate reductions across selected residential mortgage products, cutting rates...

Lenderhive launches to simplify access to green mortgages

A new digital mortgage brokerage, Lenderhive, has officially launched today, promising to simplify the...