Majority of homes can achieve EPC targets without breaking the bank

Majority of homes can achieve EPC targets without breaking the bank

0:02 AM, 28th June 2024, About 5 days ago 18

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Mortgaged properties with low energy efficiency ratings can achieve EPC C targets easily, according to new data.

Technology company Kamma says despite scaremongering four out of five inefficient mortgaged homes can easily achieve EPC C.

The Prime Minister announced plans last year to scrap EPC requirements for landlords. The legislation would have required landlords to ensure their rental properties had a minimum EPC rating of C.

84% of residential properties can achieve an EPC C rating

Kamma analysed 200,000 mortgaged homes that are currently below an EPC C standard, to assess the cost needed to achieve EPC C against the value of the property.

The analysis reveals the vast majority (84%) of residential properties can achieve a minimum EPC C rating through energy efficiency improvements costing less than 5% of the property value.

This leaves only 16.5% of homeowners with a less affordable route to EPC C.

More than half of the 83.5% could achieve EPC C at a retrofit cost of less than £5,000, and 18% of properties would require under £750 in energy efficiency improvements.

Holding back progress

Orla Shields, chief executive of Kamma, explains: “Out-of-date retrofit cost estimates are holding back progress across the whole property industry.

“Most lenders and homeowners rely on retrofit recommendations, installation cost estimates, and energy bill saving estimates from the property’s EPC certificate, but EPCs use cost baselines that are over a decade out of date.

“Better data on property carbon emissions overcomes the perceived cost barrier, increases action and unlocks the benefits of retrofit for homeowners and lenders alike.”

Insulating homes reduces bills

The technology company explains these findings counter “the scare narrative” that making energy efficiency improvements to a property can cost thousands of pounds.

Ms Shields adds homeowners and mortgage lenders will both benefit from improved energy efficiency.

Ms Shields said: “Kamma’s findings run counter to the standard scare narrative that home retrofit is prohibitively expensive for the majority of UK homes.

“These inaccurate estimates have continually put off homeowners, slowing down the pace of retrofits and property decarbonisation.

“It’s not just homeowners that stand to benefit from retrofitting. Insulating homes reduces bills and insulates lenders from the increased risks associated with lending on under-performing homes.

“Changing regulations and changing buyer preferences both provide good reasons to act. With better data, better choices can be made.”


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Comments

Joseph Pay

16:50 PM, 28th June 2024, About 4 days ago

I think the writer should provide the evidence that 40% of properties could convert to an EPC C for under £5000; Solar panels cost £12K and air pumps cost between £4K - £8K.

This is spreading misinformation which does not help anyone.

Michael Booth

16:56 PM, 28th June 2024, About 4 days ago

Who do they think they are kidding pre 40s 50s housing ,victorian property single brick properties concrete floors external/ internal cladding all costing thousands, epc and liebor ideology will destroy the prs .

Cider Drinker

18:09 PM, 28th June 2024, About 4 days ago

Reply to the comment left by Mick Roberts at 28/06/2024 - 12:32
We should remind tenants that they can refuse to have the disruptive works doing.

Mike Geo

11:23 AM, 29th June 2024, About 3 days ago

been told my properties need underfloor and internal wall insulation and my hot air systems replaced how can i do that while i have tenants ? i cant afford the work let alone being forced to pay to move tenants into alternative accommodation during the upgrades

PH

17:28 PM, 29th June 2024, About 3 days ago

Reply to the comment left by Mike Geo at 29/06/2024 - 11:23
It seems your only option is to sell it .

Mick Roberts

18:19 PM, 30th June 2024, About 2 days ago

Reply to the comment left by Cider Drinker at 28/06/2024 - 18:09
Yes,
My tenants all the time refuse work.
Had 3 this week for Licensing accreditation.
Here's a letter she's wrote this week:

Dear DASH,

Regarding your 26 June 2024 inspection visit to my home.

Thank you for offering to ask Landlord for the bits below. I have to decline this for the reasons also below.

To put me more double sockets in my bedroom, living room & kitchen. I can reassure you I will not be trailing extension leads & overloading sockets.
I also don't want my house ripped apart for this work while I am here. It is my home after all.

Extractor hood. My Landlord always fits these in his newly refurbished houses, but I have lived here approx 10 years & have declined new kitchen in order to keep my rent the low amount it is. I have window right next to cooker & will open as necessary. I understand a 2024 £5000 kitchen cannot be afforded on my 2020 rent.

It's OK suggesting these 2024 standards which I have seen in my Landlords refurbished houses, but have you seen the rent people pay for these latest standards? Not a rent some of us can afford.

I think it's extremely unfair to ask for my Landlord to pay for these costs when he's been charging me over 30% below market rent up to April 2024.
I've been with him approx 17 years paying approximately £2400 per year below normal rent & am happy to continue with this discount if that means me doing the odd bit myself. I've saved approx £40,800 being with my Landlord v's not being to afford the latest standards 2024 home.
I understand any safety issues I cannot afford myself, my Landlord

I don't want the hard wired interlinked battery back up smoke alarms. I've heard if I run out of electric in middle of night, smoke alarms start beeping. People then rip them down. They now have none. Cheap battery ones are safer for me.

Thank you DASH, I hope you don't get my rent put up to normal market rents.

Mick Roberts

18:21 PM, 30th June 2024, About 2 days ago

Reply to the comment left by Mike Geo at 29/06/2024 - 11:23
They don't get it do they, impossible to do while tenant there. And u don't get the grants when house empty.
Govt & Council's need to come ask us Landlords & tenants in the real world how we can get these works done instead of telling us U having this u need it cause that bad house 2 miles away is awful. So u all being subject to retrospective changes that WILL result in homelessness.

Alison Clark

12:44 PM, 1st July 2024, About A day ago

Hi can someone please remind me under Labour what was their timescale for introducing minimum (C) EPC? Was it 2025? Do you think this will be scrapped as before? Thank you.

Alison

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