The government may need to help the buy-to-lease market meet its goal of a C EPC rating for all properties by 2025, according to Paul Brett, general manager of intermediaries, at Landbay.
Brett said it would cost an average of Â£ 8,000 for each homeowner to upgrade their properties’ EPC rating to a C, which he added that not all will be able to do.
The panel consisted of Phil Richards of Keystone, Richard Boyle of BC Invest, Grant Hendry of Foundation Home Loans, Jane Simpson of TBMC and Brett.
The government has said that by 2025, owners must have properties with an EPC rating of at least C.
In order to achieve this goal, Brett said a large number of properties will need to undergo installation work and other green upgrades to achieve this goal.
Simpson said: âThe main concern here is that homeowners are locking in for 5-year fixed rates, and if you don’t have these conversations with them now, they’ll be tied for five years and therefore won’t be able to release the funds. that they need to meet the demands of governments.
“A holistic review needs to be done of owners’ portfolios and identify early on where money can be withdrawn with the intention of using it to improve EPC ratings by 2025.”
She went on to add that a major concern is the reliance on the private rental sector to respond to government instructions, which therefore means, from a monitoring point of view, that it is the reasonableness of the owners.