From 1 April, the rules on EPC ratings are changing and it will affect how cases are underwritten.
It will be against the law in England and Wales for landlords to grant a new tenancy to either new or existing tenants if their property doesn’t have an Energy Performance Certificate rating of ‘E’ or above.
How will it affect new clients?
Lenders will need to know the EPC rating of a property and may start asking NOW. Exemptions are available.
How will it affect landlord with property with a rating below E?
The landlord will need to carry out ‘relevant energy efficiency improvements’ to bring it up to an ‘E’ or above. They may be able to obtain Green Deal finance to do this or the property may qualify for an exemption.
Call our mortgage specialists if you want some guidance 01792 277555