MORTGAGE & PROPERTY NEWS
September 2022
Landlords rue new EPC rules
One in five landlords could sell up or stop renting their properties, according to research from Paragon Bank, in response to proposed changes to Energy Performance Certificates (EPCs).
From 2025, all newly rented properties will be required to have an EPC rating of C or above, more stringent than the current requirement of E or higher. Recently, Paragon estimated the average cost of upgrading a rented property to a C rating at £10,560.
Existing tenancies will have until 2028 to comply with the change, after which millions of properties could risk becoming unrentable if landlords don’t make necessary changes.
In the face of these new rules, sustainability is becoming a major selling point, according to Rightmove’s Green Homes Report. The report found that the time it takes to sell a property is faster for homes with the highest EPC ratings.