Is Climate Change about to impact your mortgage?

Money-advisor-CCFPS
Money-advisor-CCFPS

Article by Phil

Quite possibly, according to the governments new proposed Building and Energy Strategy document.

It seems the government is considering imposing requirements on mortgage lenders to reduce the Energy Performance Certificate ratings across their portfolios to an average of a C rating. What that would mean is that mortgage lenders would have to take into consideration a properties EPC rating before deciding whether to lend against it.

The implications are potentially far reaching.

Currently EPC ratings are a matter between buyers and sellers. Buyers may not be interested in properties if they are energy inefficient and equally sellers may want to improve their energy efficiencies if they want to attract more buyers. Currently this is down to the individual homeowner to decide. Involving mortgage lenders will remove this individual responsibility. But what if homes can’t be improved, or homeowners can’t afford to improve their home.

Remember the UK has a high proportion of older housing stock, some of it listed with alteration conditions attached. What the government could end up doing is locking people in older housing stock into their homes because they can’t sell them. (because buyers can’t get mortgages)

Equally that could affect the ability of new homeowners to get onto the housing ladder and others to downsize for example. Do we really want the government using the housing market in its attempts to meet arbitrary climate targets.

I’m not sure that this is likely to be a vote winner?

Mortgage and Money Advisors will also be impacted by these changesof course as well.

Life Assurance

Christina Clegg Financial Planning Services explains the benefits of life assurance and the different types of cover.

Our customers describe us a "professional and friendly Money Advisors" in their reviews, so why not give us a call on 01282 614444 or drop us an e mail to enquiries@ccfps.co.uk

Awards and Accreditations

Pension Transfer Gold Standard
Investment-Planner
Financial Vulnerability Taskforce
VF 23
Vouched For 2022
Vouched For 2021
Vouched For 2020
Vouched For 2019
Vouched For 2018
Vouched For 2017
Vouched For 2016
Vouched For 2015
Vouched For 2014

The service provided was both professional and extremely helpful, without Christina’s help we would have lost money and took a long time to obtain our pension funds.

Mr & Mrs W

I will be recommending Adele to act for colleagues I work with, who will need the same advice as I have received in the future.

Mr M

Very satisfied! A quick, friendly and professional service.

Mr P