Push to up EPC ratings coming at bad time for homeowners

Three in four (75%) Brits say they would like to make their home more energy efficient but a quarter (23%) cannot afford to do so, research from the Mortgage Advice Bureau has revealed.

The huge rise in the cost of household bills, as the energy price cap rose by 54% in April, has shifted people’s priorities.

Well over a third (37%) said they have prioritised their household bills over making home improvements, as 35% said energy bills have increased by too much.

Ben Thompson, deputy chief executive at Mortgage Advice Bureau, said: “The government’s ambitious plans to reach net zero targets is having an effect on households, with an impressive number of people having the intentions to make their homes more energy efficient.

“But despite this desire, consumers are being hit from all sides with the cost-of-living crisis, including soaring inflation and rising household bills.

“This means households are having to delay their desired energy efficient home improvement goals to prioritise their finances.

“More needs to be done to help consumers (such as working with lenders to help people make sensible and informed choices which will ultimately support the government in reaching their targets, while also helping the environment and potentially reducing household energy costs.”

The government plans to make it so landlords have to bring properties up to an EPC level of C for new tenancies by 2025 or 2026, as well as for existing tenancies by 2028.

Landlords can claim tax relief when making green upgrades, but it’s still a costly endeavor.

Indeed, according to Shawbrook research landlords who have upgraded their homes have spent £8,900 on average thus far.

Worrying the average EPC rating for homes built between 1930 and 1982 is D, meaning homeowners have a lot of work to do when it comes to improving the standard of the UK’s housing stock.

Comments 2

  1. Sell the houses with EPC below a C right now to the tenants
    They will be able to pay for the upgrades using grants from the “Council” paid for by the rest of us
    You couldnt make it up…
    Looking to buy a house in France to get away from the stinking traffic exhaust here
    In France no one is slightest bit interested in EPC, heating with electric and wood burners is the norm and houses cost 25% of UK price…
    Check it out…

  2. If the average cost of upping an EPC to C is £8,900 on average I don’t see many owner occupiers lining up to lay out all that money to save what is currently a couple of hundred pounds a year. The Government can’t afford to offer grants to all those that want to upgrade so they will never compel owners to upgrade. Of course us rich landlords can afford to do it!

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