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

Skipton to cut residential rates and revive three-year fixes

Skipton Building Society is cutting rates across parts of its residential mortgage range from...

The Leek lowers mortgage rates across residential and specialist products

Leek Building Society is cutting mortgage rates across parts of its residential, shared ownership,...

Fleet Mortgages adds two-year tracker products to buy-to-let range

Fleet Mortgages has launched three new two-year tracker mortgages at 75% loan-to-value across its...

Norton Home Loans provides remortgage on PRC home in Southampton

Norton Home Loans has completed a £218,000 remortgage for joint applicants in Southampton, allowing...

Scotland attracts rising interest from GCC property buyers

Scotland is becoming an increasingly popular destination for Gulf buyers looking at UK property,...

Latest publication

Other news

Skipton to cut residential rates and revive three-year fixes

Skipton Building Society is cutting rates across parts of its residential mortgage range from...

The Leek lowers mortgage rates across residential and specialist products

Leek Building Society is cutting mortgage rates across parts of its residential, shared ownership,...

Fleet Mortgages adds two-year tracker products to buy-to-let range

Fleet Mortgages has launched three new two-year tracker mortgages at 75% loan-to-value across its...