The experts from Newable Finance explain why you might need an Energy Performance Certificate and how they can help you improve your rating
What is an EPC and why do I need one?
The Energy Performance Certificate (EPC) is a requirement for all rental properties in England and Wales. It shows the energy efficiency of the property, as well as useful information on how you can make it greener and more efficient. It serves as a legal requirement for landlords and is essential for potential buyers or tenants. If a property has a low rating, then the buyer or tenant will know that the energy bills for that property could be high.
The government made changes to the Minimum Energy Efficiency Standards (MEES) for England and Wales in late 2021 stating that as of 2025, all rental properties will need an EPC rating of ‘C’ or above. In April, this deadline changed to 2028.
This new EPC legislation hopes to make homes more energy-efficient and reduce carbon emissions in line with the government net-zero carbon target by 2050.
Can an EPC affect my property value?
An EPC is required when a building is constructed, sold, or rented out. From 2028, new rules mean rental properties with an EPC rating of D or below, will not be able to take on new tenants.
Property advertisements must include some description of an EPC rating or the certificate itself. A poor rating may not only devalue your property, but it could even make it un-mortgageable.
Improving your EPC Rating is likely to increase your property’s value. It also means you could reduce energy bills and reduce your carbon footprint. But most importantly, you will be complying with legislation.
Do I need an EPC to refinance?
Usually, EPCs are only required when selling or letting a property. They are not essential when refinancing, however, they may be requested.
Can I get an EPC even if I am not selling?
You can organise an EPC even if you are not selling or refinancing. The best advice is to speak to your local estate agent to arrange this for you.
Who can provide me with an EPC?
You will need to appoint an accredited assessor to conduct the EPC inspection. They will give your property an energy efficiency score as well as a score for CO2 emissions. Once issued, an EPC rating is valid for 10 years.
To get an EPC, you will need to get your property assessed. To find an assessor, contact the Department for Levelling Up, Housing and Communities (DLUHC).
How much will it cost me?
The cost of an EPC can vary between £35 and £120, depending on the type of property you own. As there is no fixed fee, it is best to research and compare various accredited assessors.
How can Newable Finance help with EPC loans and mortgages?
As specialist finance brokers, Newable Finance have access to 150+ lenders across the UK. Due to our handpicked and specialist panel of lenders, we have access to preferential rates to get you the most competitive deal on the market.
We pride ourselves on speed, transparency, efficiency and flexibility, and offer a 24/7 live chat service to make getting in touch as easy as possible.
We are renowned for our outstanding customer service and boast a 4.9/5 star rating on Trustpilot, which demonstrates what our customers really think about us.
We provide a free, independent advisory service and we do not charge a fee for funding unless we successfully source you the finance you need!
What range of funding is available?
A large range of funding is available to refinance or refurbish. You can access £50,000 to £20m.
What are my exit options?
Our specialist advisors have hundreds of years of experience between them, to advise you on the best exit strategy for your EPC refurbishment finance and can source you a specialist “green” finance buy to let mortgage which is much cheaper than a traditional buy to let mortgage.
Why should I improve the EPC on my properties now, rather than waiting until 2028?
While the 2028 deadline is still some time away, there is an incentive for landlords to undertake this work now due to the ever-increasing lack of skilled labour in the market, while also considering their options for exit strategies and re-mortgaging with green mortgages which reward those (with cheaper rates) with energy efficient properties.
Why use Newable Finance brokerage for EPC loans?
There are more than 150 specialist lenders, each with their own rates, credit appetite and geographic focus.
EPC Finance brokers will have decades of knowledge working with landlords and can help position your deal with the most appropriate lenders to finance your loan or mortgage. EPC finance can be secured relatively quickly and using a broker can help you secure it even faster.
Find out more at newable.co.uk/epc-loans.
