Around 23 per cent of surveyed landlords in a report from Shawbrook Bank, believe their properties are rated D or below for energy efficiency.
In particular, older homes such as Victorian-era properties are more likely to have a lower EPC rating and most in need of expensive changes to bring the EPC rating up of homes to a C or above by 2028.
It could end up being an expensive process for landlords with older properties in their portfolio. The report revealed a quarter of landlords in the 55+ age group don’t have the necessary cash reserves available to carry out the improvements.
Not getting a property ready by the deadline could mean a landlord is unable to rent their properties, potentially left unmortgage able and therefore unsellable.
The report goes on to show that nearly half of landlords said they would benefit from better EPC legislation guidance as a whole to be provided to them.
A sizeable number of landlords surveyed – around a third – want support on the implementation of EPC changes. While 29 per cent wanted greater visibility on suppliers that can be used to make the improvements required to a property to make it compliant.