Ahead of new EPC changes coming into force in April 2025, new research has revealed that 78% of landlords, while aware of the rules, confess to not knowing a lot about the proposals with a similar number saying that the government has done a poor job at communicating the proposed changes.
The research from Shawbrook comes following the Autumn Statement where the Chancellor reaffirmed the government's commitment to net zero with a proposal to reduce energy consumption from buildings and industry by 15% by 2030.
Chancellor Jeremy Hunt has revealed that government will be doubling funding to improve the energy efficiency of buildings and industry to achieve the target, adding another £6bn from 2025.
While landlords are currently able to let homes which have an EPC rating of D and above, the government standards are widely expected to become tougher. The government has previously set out an aspiration for a minimum C rating in England and Wales by April 2025. Future legislation could see landlords unable to take on new tenants or face fines if they fail to comply with the changes.
A lack of information appeared to be a key issue for landlords looking to comply with EPC changes with 31% citing it as a barrier for them in improving the EPC ratings of their properties. Ultimately, 68% of landlords agree that there isn’t enough support for them to make improvements.
The research, part of Shawbrook’s Confronting the EPC Challenge report, highlights the role that both lenders and brokers can play in supporting landlords with creating a more sustainable property portfolio. The research shows that 56% of landlords have now spoken to either a lender or broker about the expected EPC proposals. But four in ten still have not addressed the proposals with either their lender or broker.
