Nearly half of brokers not assured in understanding EPC regs – Mortgage Technique

New analysis printed in the present day from Mercantile Belief highlights a lack of understanding amongst brokers and their property investor purchasers of the proposed modifications to Power Efficiency Certificates (EPC) necessities.

The survey which garnered over 150 dealer responses, discovered that 48.5% of brokers mentioned they weren’t assured that they totally understood the federal government’s proposed new guidelines concerning EPCs for rental properties.

As well as, practically half (49.2%) of brokers mentioned their property investor purchasers had not requested them for any info on the EPC regulatory modifications.

The modifications to Power Efficiency Certificates (EPC) necessities are as a result of come into power in 2025, when all properties lined by a brand new tenancy settlement will want an EPC ranking of C or above.

All rental properties might want to meet this normal from 2028. Failure to conform dangers a effective of £30,000 per property.

The analysis additionally reveals that 60% of brokers haven’t organized a bridging mortgage to finance vitality efficiency-related refurbishments over the previous 12 months however that 66% predicted they might do extra enterprise on this space over the approaching 12 months.

To assist brokers and their purchasers cope with the impended EPC modifications, Mercantile Belief has partnered with Elmhurst Power to create a free EPC Hints & Ideas information for landlords and property buyers.

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