OK, so who wants the good news?
Rishi Sunak’s day in parliament yesterday came with an announcement on a new strategy to achieving net zero by scrapping the plan for new rental properties to at least Energy Performance Certificate (EPC) rating of ‘C’ by 2025, and all properties by 2028, saying “we will never force any household to do it”.
So, for now the dark days are over as tenants were concerned as there was a likelihood of rent being increased to cover the costs or, more likely, they faced eviction as landlords chose to sell rather than upgrade.
Companies like PROPERTY MASTER are a revolutionary platform that compares Buy to Let mortgage criteria and affordability, helping landlords to see through the rain and balance improved mortgage rates for “green products” against EPC improvement spend.
So what does this mean?
Angus Stewart, CEO of PROPERTY MASTER, a said “We welcome the greater clarity from the Prime Minister on the expectations on landlords. The previous proposals, although never formally implemented, left a lot of doubt in what was expected of landlords and the timing of such changes resulting in many landlords choosing to sell their properties because of the uncertainty. A move to encourage landlords to improve their properties rather than penalise them is an overall better approach”.
With the announcement of any unchanged Base Rate, we may have seen the peak of variable rates and would encourage both existing and prospective landlords to use our free website to find the best Buy to Let or Holiday let mortgage for their circumstances.