Energy Matters | Issue 6 | 2021
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F E AT U R E www.elmhurstenergy.co.uk
Energy efficiency is important for owner occupied homes too Martyn Reed, Managing Director
It is generally accepted that following years of investment, measurement and reporting, social housing is now some of the most energy efficient in the UK
More recently, minimum energy efficiency standards have been applied to the private rental sector and although starting slowly, they are already encouraging landlords and tenants to pay close attention to their Energy Performance Certificates (EPCs), with improvements being made.
But what about the owner occupied sector? When it comes to mortgaged properties, a recent Government consultation proposed new rules to encourage mortgage lenders to help householders improve the energy performance of their homes. Under the plans outlined by the Department for Business, Energy and Industrial Strategy (BEIS), mortgage lenders will initially be encouraged, and ultimately required, to disclose information on the energy performance of their property portfolios in England and Wales every year, as well as the gross value of their lending for energy saving home improvements.
The Government is also consulting on the merits of setting minimum energy targets for mortgage lenders that could help build the market for green finance products to support home energy efficiency. Elmhurst Energy is already working with two major lenders to help them prepare for the market opportunities and risks of this proposed new regime. In its response to BEIS we urged mortgage lenders to adopt the latest proposals, but also challenge Government on the underlying objectives. These proposals contain important ideas that have been mooted for many years, and there is no doubt that mortgage lenders hold the keys to unlocking a lot of investment in more energy efficient properties. As the saying goes, ‘sunlight is the best disinfectant’. By shedding light on the energy performance of mortgaged homes, pressure will be brought to bear to find new ways to improve our housing stock.
