Proposed overhaul of Energy Performance Certificates will impact the entire property sector
The UK Government has unveiled plans to reform the Energy Performance of Buildings (EPB) framework in England and Wales, with sweeping changes to the way Energy Performance Certificates (EPCs) are structured, used and valued. Both commercial and residential agents, landlords and property owners will need to renew their EPCs more often
What do the proposed changes mean for homeowners and landlords?
For homeowners
the new metrics will provide a better insights into energy efficiency, potentially helping homeowners reduce energy bills, however the cost of frequent assessments and upgrades could be a concern, particularly for older properties and less energy efficient homes.
For Landlords
Landlords face increased costs and compliance requirements, including more frequent EPC renewals along with stricter rules for HMOs and holiday lets, and the need to upgrade properties to meet the new standards. The current stipulation means that a to rent a property out the current EPC must be a minimum of a E rating, this will increase to a C rating under the new proposals and by 2030!