Wednesday, February 21, 2024
Finance

Mortgage lenders, advisers want reversal of EPC changes

mortgage deals

49% of mortgage lenders and 32% of advisers would welcome any decision to reverse the Energy Performance Certificate changes

Mortgage lenders and advisers would like to see a government U-turn after the relaxation of EPC legislation for landlords, new data from Mortgage Advice Bureau shows.

49% of mortgage lenders and 32% of advisers would welcome any decision to reverse the Energy Performance Certificate changes, whether by the current or a newly elected government.

Following the government scrapping plans aimed at encouraging landlords to upgrade the energy efficiency of their properties, MAB polled some of the UK’s biggest mortgage lenders, as well as advisers, to get their views on the sector – with a particular focus on ‘green homes’.

When asked what the main thing the mortgage industry needs to do to expedite efforts of green mortgages, almost one in three (31%) lenders cited increasing public awareness and education about the benefits of such products. In the meantime, advisers believe offering more competitive interest rates and incentives for green mortgage products is a priority (25%).

Advocating for government policies and incentives for green mortgages was also ranked highly amongst lenders, with around three in ten (29%) confirming this is important.

The study also found that 82% of lenders believe that the best way for the government to achieve the need to deliver more energy efficient homes is via builders and lenders. Meanwhile, nearly one in five (18%) believe the responsibility falls to builders alone.

Ben Thompson, Deputy Chief Executive Officer of Mortgage Advice Bureau, said: With climate change continuing to be an issue we all must take seriously, everyone has a role to play to ensure UK homes are more energy efficient. At a policy and industry level, we have a responsibility to push the housing market to a more sustainable future – one that is as energy efficient as possible. The fact that 82% of lenders believe that the best way to achieve energy efficient homes is via builders and lenders is a surprise. There should be cross industry cooperation and working with intermediaries who too can have a big role to play in the move towards a greener future.

Leave a Reply