The government may need to assist the buy-to-let market in reaching its target of a C EPC rating across all properties by 2025, according to Paul Brett, managing director of intermediaries, at Landbay.
Brett said that it will cost an average of £8,000 for each landlord to improve their properties EPC rating to a C, which he added not all will be able to do.
The panel consisted of Phil Richards from Keystone, Richard Boyle from BC Invest, Grant Hendry from Foundation Home Loans, Jane Simpson from TBMC and Brett.
The government has said that by 2025 landlords must have properties at an EPC rating of C as a minimum.
In order to achieve this, Brett said that a large number of properties will need to have installation work and other green improvements completed to reach this target.
Simpson said: “The main worry here is that landlords are locking in for 5-year fixed rates, and if you do not have those conversations with them now they will tie in for five years and therefore will not be able to release the funds they need in order to meet the governments requirements.
“A holistic review needs to be done of landlords portfolios and identify early where money can be withdrawn from with the intention to use it to improve EPC ratings before 2025.”
She went on to add that a major concern is the reliance on the private rented sector to meet the governments instructions, which as a result means from a monitory point of view, it is the landlords reasonability.