landlord grants EPC

Boost your EPC: what landlord grants are available?

Thousands of properties in the private rented sector may need to be retrofitted to meet new EPC standards, but there are some landlord grants available.

Property agent membership body Propertymark has recently urged letting agents to look into the options available for the properties on their books to upgrade their energy ratings. There are several landlord grants out there that can be taken advantage of, says the body.

One of the latest schemes to be unrolled by the government is landlord grants towards upgrading the boilers and heating systems in their properties. The Boiler Upgrade Scheme is available for homeowners and those with second homes, too.

The scheme offers grants of up to £5,000 towards the cost of an air source heat pump and £6,000 for a ground source heat pump. It is also offering £5,000 towards a biomass boiler for properties in rural areas and those not connected to the gas grid in England and Wales.

What other landlord grants and incentives are out there?

As of 1st April, the rate of VAT to be paid on certain energy saving materials has been reduced to 0%. This rate will be in place for five years, before reverting to the 5% reduced rate of VAT.

The government also has a Green Deal strategy in place, which can be used for a range of measures in a rental property. These include replacing windows and doors, installing secondary glazing, using energy efficient lighting and upgrading heating.

Landlords must get a property assessed to access the Green Deal. There is a Green Deal Finance Plan available to help with the costs of upgrades.

Grants are also available in certain instances for energy efficiency improvements where the tenants are on benefits, for example. Find more information here.

There is also an electric vehicle chargepoint grant for landlords currently available. The grant amount given is per chargepoint socket installed. It provides up to 75% of the cost towards the purchase and installation of a chargepoint socket, limited to £350 per grant.

Landlords can receive up to 200 grants a year for residential properties, and a further 100 for commercial properties.

Making a property more appealing

Current Minimum Energy Efficiency Standards (MEES) state that all privately rented properties must have an EPC rating of E or higher. However, it is widely reported that these could be set to change within the next few years, raising the bar for rental homes.

With escalating energy bills alongside a greater emphasis on environmental responsibility, tenants are already beginning to seek out more energy efficient properties. Therefore, landlords who factor this in could see more demand for their homes.

Timothy Douglas, head of policy and campaigns for Propertymark, said: “The challenge of retrofitting the UK’s housing stock is going to be huge, but funding schemes are now starting to emerge and Propertymark continues to urge policy makers to come up with more incentives for the sector.

“Better energy efficiency can reduce bills for tenants and make a property a better proposition to be let out, but there is not a single solution.

“Now is the time for letting agents to begin conversations with their landlords to look at all the options and explore how they can maximise grants and other financial support available.”

Older homes falling behind

As the emphasis on boosting the country’s eco credentials continues, it is likely that more landlord grants could be rolled out in the future to bring the private rented sector up to standard.

Older housing stock is the least energy efficient generally, with most modern new-builds boasting the highest energy efficiency ratings. One recent survey from Shawbrook Bank noted that landlords are already leaning towards more energy efficient property investments.

A report from the Department for Levelling Up, Housing & Communities also highlighted the stark difference between the EPC ratings of the UK’s older homes compared with new-builds.

BuyAssociation sources exclusive residential property investment opportunities across the UK, with an emphasis on new-builds and newly converted homes. Get in touch to find out more.

Self-certified Sophisticated Investor

Please read

I declare that I am a self-certified sophisticated investor for the purposes of the restriction on promotion of non-mainstream pooled investments. I understand that this means:

I am a self-certified sophisticated investor because at least one of the following applies:

I accept that the investments to which the promotions will relate may expose me to a significant risk of losing all of the money or other property invested. I am aware that it is open to me seek advice from someone who specialises in advising on non-mainstream pooled investments.

High Net Worth Investor

Please read

I make this statement so that I can receive promotional communications which are exempt from the restriction on promotion of non-mainstream pooled investments. The exemption relates to certified high net worth investors and I declare that I qualify as such because at least one of the following applies to me:

aerial-view-uk-houses

STAY AHEAD OF THE MARKET

Sign-up for first access to new developments and exclusive property investment opportunities.

We send limited and targeted emails on new launches and exclusive deals which best fit your areas. We are trusted by over 30,000 active buyers as their source for new stock.

  • New property developments
  • Professional market reports
  • Property deal alerts
  • Development updates
UK holiday let

FIRST FOR NEWS AND KNOWLEDGE.

Receive trending news straight to your inbox and stay up to date on all of the property market trends and advice.

Established since 2005 we are a leading voice of authority and commentary on the UK property market. Our news is trusted by Apple News & Google News.

  • UK housing market
  • Mortgage & money
  • Buy-to-let landlords
  • Guides & advice

Talk to us

Speak to our UK property experts today:

 

+44 (0) 333 123 0320

Open from 9am-6pm GMT

 

+852 6699 9008

Open from 9am-6pm HKT