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

More questions now surround the home moving digital journey

The Ministry of Housing, Communities and Local Government (MHCLG) has published its highly anticipated...

Mortgage rates have surged since Brexit vote, says L&C

The cost of borrowing has risen sharply in the decade since the UK voted...

Accord trims rates across residential and buy-to-let ranges

Accord Mortgages is reducing rates across its residential and buy-to-let product ranges for the...

RAW Capital Partners records strongest month for lending completions

Specialist lender RAW Capital Partners achieved a record month for loan completions in May,...

Air warns of interest-only mortgage maturity challenge for older borrowers

Thousands of older homeowners approaching the end of their interest-only mortgage terms may be...

Latest publication

Other news

More questions now surround the home moving digital journey

The Ministry of Housing, Communities and Local Government (MHCLG) has published its highly anticipated...

Mortgage rates have surged since Brexit vote, says L&C

The cost of borrowing has risen sharply in the decade since the UK voted...

Accord trims rates across residential and buy-to-let ranges

Accord Mortgages is reducing rates across its residential and buy-to-let product ranges for the...