Buyers of poorly-insulated homes may struggle to get a mortgage under government proposals to make the housing stock greener, kombi servisi it was revealed yesterday.
Mortgage lenders would have to disclose the energy performance of properties in their portfolio – and set themselves voluntary targets to improve the insulation of their houses.
Ministers hope that the move would encourage buyers to make their homes more energy efficient.But those that cannot afford to do this could struggle to remortgage or sell.
Buyers of poorly-insulated homes may struggle to get a mortgage under government proposals to make the housing stock greener
The plan states lenders’ properties should aim to reach an average energy performance certificate (EPC) rating of band C by 2030.Ministers could make the target mandatory if not enough progress is made, according to the Government’s heat and buildings strategy.
Only around two in five homes in the UK currently receive a band kombi Servisi C energy rating or higher, according to government figures.Band A is the most efficient and G is the least.
Critics have warned that the plan would hit first-time buyers and families with period properties. Sarah Coles, of investment service Hargreaves Lansdown, said some homeowners would find it ‘prohibitively expensive’ to make their house more energy efficient.
She added: ‘They may not be able to afford to borrow more, or the cost of changes to older properties may be disproportionately high, so they would never recoup the cost of the improvements through a sale.’
Mortgage lenders would have to disclose the energy performance of properties in their portfolio