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Is everyone aware of this? £5000 fine for letting without an valid EPC may rise to £30,000


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I expect most landlords are aware of the £5000 fines for letting a property without an EPC of band E or above.

If not here is an overview of the current rules you need to know about right now.

But did you know the Government are consulting on increasing fines to landlords without EPC's of band C or above to £30,000 per property, per breach.
There is a link at the bottom of the article to the consultation document.

Steve Walker

www.promisemoney.co.uk

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Ouch! That is a lot but it really should be sorted by now or have a plan in place. The traction is towards better energy efficiency.

:wub: Get Mortgage Advice from my Team at Bespoke Finance on 08009202001 or email hello@bespokefinance.info 
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Please don't take my messages on Property Hub as Personal Financial Advice, just a rambling guy passing time on a Coffee Break.
 

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  • 2 months later...

Are there any updates about this at all? I’m looking at my first BTL and so many properties are rated ‘c’* or below. 
 

Thank you 

 

*should have said ‘d’

Edited by abbyk
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Abby

You are currently OK with a "C" but the new rules may require you to upgrade anything below that - It looks like you will have until 2028 for existing tenancies

There are planned to be some grants of up to £5000 made available to hire tradesmen to do the upgrade

The preferred policy scenario for improving the energy performance of privately rented homes comprises four elements which are : 1. Raising the energy performance standard to EPC Band C; 2. A phased trajectory for achieving the improvements for new tenancies only from 2025 and for all tenancies from 2028; 3. Increasing the maximum investment amount, resulting in an average per-property spend of £4,700 under a £10,000 cap; 4. Introducing a ‘fabric first’ approach to energy performance improvements.

here is the whole document

Steve

www.promisemoney.co.uk

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Hi Steve, thank you very much, very helpful. 
 

In light of the above, perhaps it is best to look for ‘c’ and if possible ‘b’ rated properties? 
 

I had planned the BTL to be long term investments. 

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The proposals or EPC C were supposed to be published 'Spring 2021' after the consultation, but so far no news. However, eventually to is going to come so my advice would be to only buy a reasonably modern property that can easily attain an EPC C.

The problem is that the assessment keeps changing! Properties of mine have lost 8 points in the last 10 yrs because of the change in assessment!

What I can guarantee is that it will be hard to upgrade older properties so avoid them and stick with better insulated ones and make sure you have proof of all the insulation so the assessor doesn't make incorrect assumptions!

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On 6/19/2021 at 7:35 AM, julia urquhart said:

The proposals or EPC C were supposed to be published 'Spring 2021' after the consultation, but so far no news. However, eventually to is going to come so my advice would be to only buy a reasonably modern property that can easily attain an EPC C.

The problem is that the assessment keeps changing! Properties of mine have lost 8 points in the last 10 yrs because of the change in assessment!

What I can guarantee is that it will be hard to upgrade older properties so avoid them and stick with better insulated ones and make sure you have proof of all the insulation so the assessor doesn't make incorrect assumptions!

Thank you, very helpful advice 

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