An ‘instant EPC ratings check’ has been created on the website of Mortgages for Business allowing agents to check the ratings of properties under their management.
New regulations known as MEES - the Minimum Energy Efficiency Standards - mean that in just over four weeks, on April 1, residential landlords and agents acting on their behalf will not be able to grant a tenancy to either new or existing tenants if the property’s EPC rating is F or G.
From April 1 2020, if there is a tenant already in situ, it will become illegal for residential landlords to continue letting the property out if the EPC has a rating of F or G.
Mortgages for Business says the new tool will provide a starting point for compliance.
To check a property’s EPC rating, agents and landlords need only to enter the property’s postcode into the tool.
“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” says Steve Olejnik, the chief operating officer of Mortgages for Business.
Mortgages for Business is holding a free 30-minute webinar at 1pm today, looking at the new rules and how they might affect borrowing. This webinar will also cover the new guidance for mandatory HMO licensing and minimum room sizes.