Category: News

The Government recently announced changes to Energy Performance Certificate (EPC) regulations. The decision to remove the deadlines has raised questions about its future impact and the influence this has on landlords.

EPC regulation changes

EPC regulations require landlords to obtain an EPC rating when selling or renting a property.
The certificate rates a property from most efficient to least efficient, in the aim of guiding potential buyers and renters on the potential costs and overall energy efficiency of the property.

Despite the changes, properties still require an EPC rating although there is no longer a requirement for new tenancies to have a rating of C or above.

What does it mean for landlords?

Following the proposal reversal, landlords are no longer legally required to take any further action to improve their energy efficiency rating across their portfolio.

The Government is still recommending upgrades where possible, in support of its Net Zero target, however these remain recommendations until further notice.

It’s important to consider the demands of the market, with opportunities available to create a suitable property for tenants who want a more energy-efficient home.

Staying informed and prepared

While the discussions regarding EPC regulations continue, it’s essential for you to stay informed and prepare for potential changes. Consider reviewing your properties for energy-efficient opportunities, making improvements where feasible. This could be an excellent selling point to attract eco-conscious tenants.

Stay updated on any changes in regulations, as they may impact your obligations and opportunities. Be prepared for potential market shifts.

A general election could see EPC regulations make a potential return, so keeping your energy efficiency at a high level could set you apart in a competitive rental market.

For more information, contact us now and we can support you and discuss the options available to you.

As inflation remains high, it’s the perfect time to take a closer look at how it could impact you. Whether you are behind on payments, looking to stretch your finances or coming to the end of your mortgage term, there are options available to help you.

What is inflation?

Put simply, inflation is the increase in price over time, acting as a measure of value of a currency. Tracked by several indicators, such as the Consumer Price Index (CPI) which tracks the average cost of everyday items, inflation is well above the Bank of England target of 2%, a target which has been in place since 2012.
Soaring food and energy bills have driven inflation, with oil and gas demand increasing as a result of Covid and the war between Ukraine and Russia.

How does it affect me and my mortgage?

To combat high inflation, the Bank of England raise interest rates to encourage saving. This makes borrowing more expensive and higher monthly payments for those with mortgages.

If you are on a variable rate mortgage, this level of inflation and high interest rates will be increasing your monthly payments, with your cash no longer stretching as far as it previously had. However, many homeowners are on fixed-rate mortgages.

As a result, monthly payments will not change for the duration of that mortgage product.

Is your fixed-rate mortgage product coming to an end?

It’s important to remain cautious around interest rates, even if they do start to come down. Variations in rates can make it hard to navigate the complexities of the mortgage market. It’s important that you start planning your mortgage options at least six months before the end of the fixed rate period.

Consulting with your mortgage adviser to determine which option suits your current financial goals and circumstances, can enable you to make informed decisions during these challenging times.

For more information, contact us and wecan support you and discuss the options available to you.

Following the new energy price cap setting, the amount suppliers can charge customers this winter will reduce, however, your bills may not change over the winter months. However, with the cost of living continuing to stay high there are other ways you may be able to save money this winter. To help you start the new year off right, here are some tips to help you save.

Keep it warm-ish…

Whether you are renting or have your own home, most of the energy we use goes on heating, especially during the winter months. Turning your thermostat down by one degree and switching your heating off when the house is empty, could help you save around £125 per year.

However, it is important to keep your home warm with a recommended room temperature of at least 18C. If you are older, disabled or ill, you may require a warmer temperature. If your house is too cold it could encourage damp and mould, which could lead to respiratory illnesses, infections or allergies.

Winter Showers -The warm kind!

Installing a water-efficient showerhead or reducing the length of showers to four minutes could help you save around £130 per year.

Some water suppliers have a variety of free resources to help you save water, so it’s worth taking a look to see if your water supplier can support you.

Check your Radiators

Radiators are another way you can save money, if used correctly. Turning down radiator valves in rooms you may use the least, could help you save £50 per year. Keeping doors closed will also help trap the heat in the room, allowing you to reduce the radiator temperature.

Lose the draughts and damp

Another effective method in helping you save money, is through draught-proofing doors, windows, floors and chimneys. This method is one of the cheapest and most effective ways to save energy and could help you save up to £155 per year.

Consider installing draft-proofing strips around doors and windows, a letter-box cover, sealant to close floorboard and skirting board gaps and a chimney draft excluder on unused chimneys.

When making these changes, do not block extractor fans, wall vents and airbricks, typically found in your kitchen and bathroom, as these are necessary for ventilation.

It is important to note that savings will vary for different households, and there may be refinancing options available for large scale changes.

If you want to look at your refinancing options to support energy efficiancy, contact us and we can support you and discuss the options available to you.