Greening the Housing Market

Mortgage lenders are going green. Offering lower rates and cashbacks on properties that qualify as energy efficient. These properties have an Energy Performance Certificate (EPC) rating of A or B. An EPC is recorded within the home report of every property being sold in the UK

The government however are looking to speed matters up, as heating & powering buildings currently accounts for 40% of the UKs total energy usage and 22% of all greenhouse gas emissions (source Skipton BS)

The UK has set an ambitious target of net zero emissions by 2050. This will be enforced via the Energy Performance Buildings Bill which addresses new build property efficiency requirements and also initially new buy to let tenants, as these properties require to have an EPC rating of A-C by 2025 and all tenanted properties A-C by 2028.

All mortgage lenders must by 31 December 2030 ensure the average EPC level of their domestic lending portfolio is at least an EPC Band C

All owner occupied homes will require to be band C by 2035. There are exceptions, based on whether the property is not : practical, cost effective or affordable

Green legislation is growing, so it may time to think about your home, or if you are a landlord your tenants home – from energy saving light bulbs through to major home insulation.