From 1 April, new Energy Efficiency Regulations will establish a minimum standard of energy efficiency for private rented property. This means landlords must ensure their properties have an Energy Performance Certificate (EPC) rating of 'E' or higher before granting a new tenancy to new or existing tenants.
As a responsible lender, we already set high standards when it comes to the condition of the properties that we accept. So we're only making minor changes to our valuation policy on properties that don't meet the 'E' rating.
Here is a summary of those changes, effective on all valuations carried out from 1 April 2018:
- You won't need to supply us with an EPC at application stage, as the Valuer will get this from the estate agent or the EPC register. For information on when an EPC isn't available to the Valuer, please see our dedicated webpage.
- For portfolio applications the EPC rating requirements will only apply to the new property.
- The policy is effective for properties in England, Wales and Scotland.
For full details of our approach to the new Energy Efficiency Regulations, please visit our dedicated webpage.