- Should Landlords Still Invest in Greener Properties?
- What EPC Policies Did the Government Scrap?
- How Did Buy-to-Let Landlords Prepare for EPC Changes?
- How Much Did Buy-to-Let Landlords Spend on Meeting EPC Regulations?
- Will Landlords Continue to Be Energy Conscious?
- Benefits of EPC-Friendly Properties
Should Landlords Still Invest in Greener Properties?
Research from Shawbrook Bank shows buy-to-let landlords have spent millions preparing homes for EPC changes that will no longer happen.
While this spending may seem unnecessary given the recent eco u-turn, landlords will benefit from eco-friendly and energy-efficient homes in the long run.
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What EPC Policies Did the Government Scrap?
On Thursday, the government reneged on a longstanding EPC commitment. The regulation meant landlords would need rental properties to meet a “C” EPC rating by 2025 for new lets. All properties would need to meet that target by 2028.
The government also went back on other eco policies. For instance, the ban on diesel cars was pushed back to 2035. They also postponed the requirement to replace a gas boiler by 2023. However, they increased the Boiler Upgrade Grant from £5,000 to £7,500.
Over the weekend, the government disbanded their energy efficiency task force. Appointed in March, the task force – chaired by former Natwest chief exec Alison Rose – spearheaded boiler and home insulation upgrades.
However, the task force discovered on Friday that it would be dissolved. Lord Callanan, energy efficiency minister, confirmed in a letter that the task force’s work would be streamlined into other government activities.
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How Did Buy-to-Let Landlords Prepare for EPC Changes?
A Shawbrook Bank study revealed that around 80% of landlords had already prepared their buy-to-let for the 2025 EPC regulation change. A third of those landlords said their properties already met the minimum EPC requirements, while half said they’d prepared to improve their rating before 2025.
Conversely, 17% of surveyed landlords had yet to make plans to improve their buy-to-let EPC rating, with around 3% claiming to have no knowledge of the former EPC regulations. Property types such as serviced accommodation and student accommodation investment invested heavily in EPC compliance.