Unveiling EPC: Energy Performance Certificate
EPC, or Energy Performance Certificate, serves as a critical rating system for properties, ranging from A to G, assessing their energy efficiency. Legally mandated for properties under construction, on sale or for rent, each certificate remains valid for a decade. An EPC assessor conducts a brief survey to ascertain the property’s precise energy rating.
Displayed as a colour-coded scale, properties with superior energy efficiency secure a place in band A, while those with lower efficiency fall into bands B, C, and so forth, with G being the lowest rating. The EPC rating acts as a valuable indicator of the property’s potential cost efficiency in terms of energy bills.
Implications for Property Transactions
Buying a Property:
When contemplating a property purchase, it’s prudent to consider the EPC rating as it provides insight into the property’s likely energy bill efficiency. However, it’s essential to note that energy efficiency ratings do not factor in the number of occupants, impacting the overall energy bills.
Selling or Renting a Property:
For those selling or renting a property, possessing a valid EPC certificate is a mandatory requirement.
Elevating Your EPC Rating:
Enhancing your EPC rating is achievable through various steps, including:
- Undertaking refurbishments
- Installing double glazing, a heat pump, or solar panels
- Upgrading to a newer, more energy-efficient boiler
- Installing a smart meter
- Incorporating LED lightbulbs
EPC Ratings and Green Mortgages:
Green mortgages come in two forms:
- A or B Rated Property: Residents of A or B rated properties may qualify for cash back or enjoy improved interest rates from certain mortgage lenders.
- Upgrades and Renovations: Making eco-friendly upgrades, such as adding solar panels or a heat pump, often results in lower interest rates or rebates on borrowed funds for home renovations.
Understanding the implications of EPC ratings in the context of property transactions and green mortgages provides homeowners and potential buyers with valuable insights.
Our mortgage advisors are here to help find you the best mortgage deal, contact PropertyPal Mortgages on 028 90 999 999 to get in touch about a green mortgage
Last modified: 04/12/2023