LSL New Homes reacts to 2022 ONS statistics on energy efficiency of housing

LSL New Homes Financial Services comments on the ONS Energy Efficiency of Housing in England and Wales 2022 statistics.

Craig Hall, Director of LSL New Homes Financial Services, says:

“The energy efficiency figures that the ONS released this morning show that despite energy efficiency improvements being an increasingly hot topic, millions of properties are still unprepared for upcoming EPC regulation changes.

“Some landlords are unaware that in less than three years, they will no longer be able to rent out properties with an EPC rating lower than a C if the proposed regulations do indeed come into place in 2025.

“It is crucial that lenders explore collaborative solutions to provide customers requiring a retrofit with the vital support that they need to implement such work.

“At the same time, new-build homes, 84% of which have an EPC rating of B or above compared to less than 4% of existing properties, offer unique benefits for buyers and landlords by helping them save an average of £2,000 in energy bills and helping reduce carbon emissions by more than 2 tonnes per year.*

“Some lenders have also launched enhanced affordability assessments for new build homes with A or B EPC ratings.

“It is therefore important that all mortgage intermediaries optimise this window of time, by not only educating their clients about the changing regulatory landscape but also enabling them to both access and afford new-build properties.”

* https://www.hbf.co.uk/news/hbf-report-watt-save/

Kindly shared by LSL New Homes Financial Services

Main picture courtesy of Pixabay