Though the target is caveated with "where practical, cost-effective and affordable".
Since setting this target, the government has said it is considering whether to introduce “mandatory disclosure requirements” for lenders to share the EPC ratings of the properties on their mortgage books.
Experts have warned buy-to-let investors could become mortgage prisoners if they do not make sure their property portfolios are eco-friendly.
Data released by the Office of National Statistics in 2021 suggested the government’s green homes initiative could cost landlords a collective £21.5bn.
This works out to £7,646 per privately rented property. With government finance for the home improvements now withdrawn, many landlords have found themselves ‘stuck’ with no spare cash to meet the EPC target.
The National Residential Landlords Association has gone as far as to label the government’s ambitions to improve the energy efficiency of the rental housing stock "a pipe dream".
ruby.hinchliffe@ft.com
