Nearly half of landlords unaware of EPC legislation

According to a survey from Market Financial Solutions (MFS), which surveyed around 459 landlords with one or more properties, only 58 per cent were aware of legislative changes around EPC ratings.

Legislation, which has not yet become law, says that new tenancies would have to have an rating of C or higher by 2025 and all existing tenancies by 2028.

The bill is currently waiting for its second reading in the House of Commons.

The research found that 57 per cent of landlords with a single buy-to-let property knew about regulations and this rose to 77 per cent for those with four or more properties.

Over a third, 38 per cent of landlords, said they fully understood what the changes in rules would entail.

More than half, 56 per cent, of landlords said the sustainability of their properties was important regardless of changes to EPC regulations and nearly half said the government was right to take action.

The research found that 65 per cent of landlords wanted more support to adapt to new regulations.

Over half said they would consider raising rent to pay for renovations their property would need.

Paresh Raja (pictured), CEO of MFS, said: “Despite there being support for making the property market greener, there remains a worrying lack of awareness among landlords about the upcoming changes to EPC regulations, not to mention how they can make the necessary renovations. With the deadline for the new regulations just over two years away, it’s clear more support is needed.

“Lenders can help. By working with brokers and property investors, lenders can ensure more landlords know what the new rules entail.”

He continued: “But they can also provide flexible financial products, which will likely prove important – in the current climate, many landlords will not have the capital available to make the changes their properties need, so flexible loans could be crucial in allowing landlords to keep pace with a quickly changing regulatory landscape.”