Editor's note: This brief was summarised by The Property AI Newsroom from a report by The Negotiator. Read the original article for full details.

The Mortgage Works Launches Free EPC Support Package for Landlords

The Mortgage Works, the buy-to-let arm of Nationwide, has launched a support package offering landlords free property assessments to help them meet new energy efficiency standards. The initiative aims to assist landlords in reaching the minimum EPC C rating required for rented homes by 2030.

The support package comes in response to research by The Mortgage Works, which found that 67% of landlords were unaware of the upcoming EPC C requirement, and 73% did not know when the regulations would come into force. The research also revealed that 63% of landlords are unsure about the costs involved in upgrading their properties to meet the EPC C standard, and more than half would value guidance on financing these improvements.

As part of the package, The Mortgage Works is piloting 1,000 free property assessments in partnership with retrofit specialist Eco Approach. These assessments will identify how far properties are from achieving an EPC C rating, recommend necessary improvements, estimate associated costs, and highlight available grants or exemptions.

For landlords considering the cost of improvements, the research indicated that 21% estimate spending up to £6,632 on average, depending on the property's current value. To help cover these costs, The Mortgage Works will offer loans at around two percentage points below standard further advance rates through its Energy Efficiency Further Advance products.

This initiative is particularly relevant for letting agents and inventory clerks, as it addresses the growing need for compliance with energy efficiency regulations in the UK rental sector.