Nearly half (48.5%) of brokers have stated that they are not confident that they fully understood the government’s new rules regarding Energy Performance Certificate (EPC) for rental properties, a survey by Mercantile Trust has found.
The survey by the specialist bridging, buy-to-let and commercial lender, also found that 49.2% of brokers said that their property investor clients had not asked them for any information on the EPC regulatory changes.
Set to come into force in 2025, the changes to the EPC requirements will see properties covered by a new tenancy agreement needing to produce an EPC rating of C or above. All rental properties will need to meet this standard from 2028, with a fine of £30,000 per property if landlords fail to comply.
The research also revealed that 60% of brokers have not arranged a bridging loan to finance energy efficiency-related refurbishments over the past year, but 66% predicted they would do more business in this area in the coming 12 months.
Mercantile Trust has partnered with Elmhurst Energy to create a free EPC hints and tips guide for landlords and private investors to help brokers and clients deal with the EPC changes. The guide is designed to help landlords create a plan of action, establishing what needs to be done to each property in order to secure an EPC rating of ‘C’ or above.
Director of commercial operations at Mercantile Trust, Maeve Smith, said: “The new EPC regime for landlords is fast approaching and our research has found that brokers are seeking education and clarification around this important issue.
“Working with Elmhurst Energy, we have produced our EPC guide because everyone in the industry needs to play their part in meeting the demands of the changing regime surrounding energy efficiency. We encourage brokers to download the guide and share it with their property investor clients.
“The key message to brokers and their clients is that doing nothing is not an option. Our guide provides all the information they need to create a viable strategy to deal with the EPC issue, including outlining how landlords can finance improvements to rental properties. Bridging lenders such as Mercantile Trust have already been funding energy efficiency-related refurbishments and are ready to meet the inevitable increase in demand. The main thing is to not delay any further.”
Latest News
NEW BUILD IN FOCUS - NEW EPISODE OF THE MORTGAGE INSIDER PODCAST, OUT NOW
Figures from the National House-Building Council saw Q1 2025 register a 36% increase in new homes built across the UK compared with the same period last year, representing a striking development for the first-time buyer market. But with the higher cost of building, ongoing planning challenges and new and changing regulations, how sustainable is this growth? And what does it mean for brokers?
The role of the bridging market and technology usage in the industry
Content editor, Dan McGrath, sat down with chief operating officer at Black & White Bridging, Damien Druce, and head of development finance at Empire Global Finance, Pete Williams, to explore the role of the bridging sector, the role of AI across the industry and how the property market has fared in the Labour Government’s first year in office.
Does the North-South divide still exist in the UK housing market?
What do the most expensive parts of the country reveal about shifting demand? And why is the Manchester housing market now outperforming many southern counterparts?
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories