World

The letter of the alphabet that could add £50k to the value of your property

F-rated homes achieved the lowest proportion of the asking price, at 94.9pc. The figure for A-rated properties is 97.7pc, and for B-rated properties it was 97.4pc. On a £500,000 home, the difference between homes with A and F ratings amounts to £14,000.

Nathan Emerson, of trade body Propertymark, said the Government was forcing buy-to-let landlords to upgrade their houses, as it plans to require all newly let properties to have an EPC of at least C by 2025.

“As a landlord or potential landlord investor, you wouldn’t go out and buy an F- or G-rated property today,” he said. “You would look for something with a higher rating.” 

Donna Rourke, of estate agents Strutt and Parker, said as properties with a higher EPC sold for larger sums, lower-rated homes risked being left behind. “Are those going to be stranded assets? Yes and no. There’s always going to be a market for those properties, but what we’re seeing is stricter lending rules coming in as the banks have their own net zero targets,” she said.

Prime Minister Liz Truss has announced her intention to scrap or weaken many green targets. Announcements could be made in Ms Truss’s so-called “mini-Budget” which will take place this week. However, Ms Rourke said banks are “starting to limit how they will lend on properties that do not have a decent EPC”.

“Some banks are already instructing their mortgage surveyors to take energy efficiency into account, so it is likely that it will get harder and harder to borrow money to buy those properties,” Ms Rourke said.

SOURCE: https://www.telegraph.co.uk/property/uk/buyers-turn-backs-draughty-period-properties/

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button