Mortgages for Business has launched an instant EPC rating retriever.
It is designed for landlords to quickly check the status of their rental properties.
From 1 April 2018, residential landlords will not be able to grant a tenancy to either new or existing tenants if the property’s EPC rating is F or G. From 1st April 2020, if there is a tenant already in situ, it will become illegal for residential landlords to continue letting the property out if the EPC has a rating of F or G. The new tool will provide landlords with a starting point for compliance.
To check a property’s EPC rating, landlords just have to enter the property’s postcode into the tool.
Steve Olejnik, COO of Mortgages for Business, said: “Simply put – no EPC, no buy to let mortgage. For this reason, it is important to us that our landlord clients understand how the new EPC rules will affect them.
“We wanted to create a tool that would allow landlords to find out their property’s position instantly, giving them time to make amendments if necessary.”
Mortgages for Business is holding a free, 30-minute webinar on Wednesday 28 February at 1pm for landlords who would like more information on the new rules and how they might affect borrowing. This webinar will also cover the new guidance for mandatory HMO licensing and minimum room sizes.