EPCs compulsory for new residential lets

Published 23rd Sep 2008

As of 1st October 2008, Energy Performance Certificates (EPCs) will become compulsory for all new residential lets, affecting the marketing of around 10 per cent of properties for sale. Unlike before, no property, whether it is bought, sold, built or rented, is exempt, regardless of its time on the market.

Certain regulations permitted the marketing of properties without a Home Information Pack (HIP) or EPC.

This typically included homes which were marketed prior to the various applicable commencement dates and where those properties had been continuously marketed ever since.

The exemption provisions cease on 1st October 2008, which means that, for all properties for sale as of that date, where contracts have not been exchanged, the seller must provide the buyer with an EPC prior to exchange.

The Energy Performance of Buildings Directive will require that all buildings have an EPC from that date. This affects both commercial buildings (non-domestic) and homes (domestic).

This relates to all properties being sold regardless of when listed and whether or not they have been openly marketed.

The seller is responsible for procuring the EPC, having a copy available for prospective purchasers to view and providing a hard copy to the purchaser prior to exchange.

EPCs tell you how energy efficient a home is on a scale of A-G. The most efficient homes - which should have the lowest fuel bills - are in band A.

The Certificate also tells you, on a scale of A-G, about the impact the home has on the environment. Better-rated homes should have less impact through carbon dioxide (CO2) emissions.

The average property in the UK is in bands D-E for both ratings. The Certificate includes recommendations on ways to improve the home's energy efficiency to save you money and help the environment.

According to London estate agent Kinleigh Folkard & Hayward, the new rules will have an impact on approximately 10 per cent of the properties they currently have for sale.

Carl Brignell, HIPs Expert at Kinleigh Folkard & Hayward, says, "In just a week every property on the sales market will need an EPC.

"Unlike the HIPs regulations, under the new rules the seller is responsible for complying, not the agent.

"Unsurprisingly, there has been very little noise from the Government about these new regulations however they affect roughly 10 per cent of our current stock," added Mr Brignell.

Source: ' themovechannel '

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