Ahead of the introduction of the Government’s new Minimum Energy Efficiency Standards (MEES) for private rental properties, Mortgages for Business has launched an instant Energy Performance Certificate (EPC) rating tool.
This retriever will quickly allow landlords to check the status of their rental properties.
From 1st April 2018, it will become illegal for residential landlords to grant a new lease to either new or existing tenants on properties with an EPC rating below E. This means that properties with a rating of F or G must be improved before this date.
Additionally, from 1st April 2020, it will be illegal for residential landlords to continue letting a property with an EPC rating of F or G, even on existing tenancy agreements.
Mortgages for Business’ new tool will provide landlords with a starting point for compliance.
To check a property’s EPC ratings, landlords need to just enter their property’s postcode into the tool.
Steve Olejnik, the COO of Mortgages for Business, comments on the launch: “Simply put: no EPC, no buy-to-let mortgage. For this reason, it is important to us that our landlord clients understand how the new EPC rules will affect them.
“We wanted to create a tool that would allow landlords to find out their property’s position instantly, giving them time to make amendments if necessary.”
Supporting the launch of the tool, Mortgages for Business is holding a free 3o-minute webinar today at 1pm for landlords who would like more information on the new MEES and how they might affect borrowing.
The webinar will also cover the new guidance for mandatory House in Multiple Occupation (HMO) licensing and minimum room sizes.
We encourage all landlords to check their property’s latest EPC rating and begin any necessary works to bring the property up to at least an E standard ahead of April.