We are currently in the process of buying our first buy-to-let. The EPC certificate was done 3 years ago and rated E but the owner has made improvements which would bring it up to a C. Is there any benefit in getting a new EPC to reflect this?
yes go for it as standards to let have gone up
Were chartered , since 1971 in letting, & we design & build houses to the highest standards imaginable.We have an large property portfolio.
EPC law was pushed through parliament at break neck speed over 14 years ago, following the populous worrying about running out of oil.
EPC s were measured by usually unqualified surveyors with 4 days training, , using tick sheets etc surveying my high quality new build houses in 15 minutes.
The EPC industry hastily employed 100 s of people at that time unemployed to man the equipment to carry out EPC measurements.
90% of those surveyors hadn’t any previous building experience and were trained up in 4 days.
There tick sheets ignore say hidden 125mm celotex built into floating floors & 150mm celotex in sloping roof ceilings where huge savings in annual bills can be made by so doing.
Their comment was if they cant see the celotex then theirs no insulation. They ignore the 100s of photos that show thick celotex insulation (150mm of celotex is equivelent to 400mm of fibre glass)
As such the 22 year old ex unemployed boys marked down our houses built by chartered surveyors making houses hard to sell , reducing there values by 20% in 15 minutes.
The populous in the past 14 years now believe the truth , + have now learnt that EPC certificates are a waste of money, and paper.No one these days looks at them.Better to look at the celotex in the building being bought or rented. ditto double glazing, gas boiler, etc etc etc . Dont Buy Property , but instead read whats to follow.
Finally labour plan to allow tenants to buy at an massive discount to open market values the landlords dwelling following 6 months occupation as detailed on labours right to buy discussion document bought out 3 weeks ago. See Andrew mars tv discussion with John McDonnell (see also labours LAND FOR MANY paper) shadow chancellor, 14 days ago=Sunday.
Buy to let brokers have exited the market and buy to let sales have dwindled to zero since that interview 14 days ago . Buy to let dwellings currently let have nose dived in value in 28 days.
Buy to let is now considered to be the worst investment choice in the UK based on labours property compulsory order grab and landlord tax proposals.
The chancellor also plans to restrict passing down to children from the current £1000000 to £125000 on death or 7 years before death.Small flats in my area are £400000. £125000 buys an double garage. Keep away from land purchase and residential property investment.Once labour get in freehold/leasehold values will drop 50% like they did when labour gained power in 1974(Harold Wilson for the 2nd time) when labour pushed/ held identical property ownership rules. In 1975 thousands of previously successful landlords & builders went bankrupt within the year followed by an massive property collapse, only retrieved by thatcher in 1985 reversing all the labour residential policies. The soon to be mothballed/binned the ASTA came out saving the letting market from ruin. Sitting tenants will be the norm 2 years following an labour government , as was the case in 1976, halving letted property values overnight. Its all on Wikipedia. regards Steve portfolio landlord in the UK all over since 1972. Thats why im selling millions of pounds of freeholds immediately, & getting out. Be warned. steve
You got that off your chest ! Do you feel better now?
Yes I’d say it’s worth it. Even if the property is now much more efficient, you will need a new EPC rating to be able to prove that to new tenants, and possibly in future, demonstrate you are compliant with stricter Minimum Energy Efficiency Standards (MEES).
You can order one here.