Buy to let mortgage providers and EPCs

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    Buy to let mortgage providers and EPCs

    It is becoming more noticeable that some buy to let mortgage providers seem to be asking for an EPC to be commisioned for the properties they lend upon.

    It seems that some Landlords are being requested to have an EPC carried out by the mortgage company when they have no legal obligation to do so ie when the tenant is perfectly happy with no signs of them moving. EPC legislation is mainly based upon marketing of the property.

    What am interested in knowing is

    -how widespread is this practice amongst Landlords.
    -can the mortgage companies legally enforce you have an EPC carried out when you are complying with EPC legislation without changing T&Cs within the mortgage.
    -is this actually being enforced or are some landlords misinterpretting the letters they are receiving asking them to have an EPC carried out.
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    #2
    Originally posted by hip-consultant.co.uk View Post
    It is becoming more noticeable that some buy to let mortgage providers seem to be asking for an EPC to be commisioned for the properties they lend upon.

    It seems that some Landlords are being requested to have an EPC carried out by the mortgage company when they have no legal obligation to do so ie when the tenant is perfectly happy with no signs of them moving. EPC legislation is mainly based upon marketing of the property.

    What am interested in knowing is

    -how widespread is this practice amongst Landlords.
    -can the mortgage companies legally enforce you have an EPC carried out when you are complying with EPC legislation without changing T&Cs within the mortgage.
    -is this actually being enforced or are some landlords misinterpretting the letters they are receiving asking them to have an EPC carried out.

    Simple answer .................Mort co not above law ........so no legal rqmnt....NO EPC ...


    BUT if a tc of rem then ?

    Not had a prob personally .....but Paragon M seems to be main culprit ??/

    any views appreciated ?


    The RODENT
    A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty.
    W.Churchill

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      #3
      With the Labour Party having installed over 3,000 new laws since they have been in power (almost one for every day) I believe this will just be another washout for the do-gooders/tree huggers, I was in my local branch of a well known nationwide electrical retailer last week and not one of the fridges had a EPC attached, seems the novelty has worn off. One a different matter I needed to contact my Local Trading Standards Office and three calls were unanswered and the following day (last Wednesday) 6 working days ago I managed to leave a message and I am still waiting for a reply..., maybe they have all the phones are off the hook whilst they study the implications/requirements of all this bureaucratic nonsense.
      "Better an empty property than a tenant without a guarantor"

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        #4
        Originally posted by Rodent1 View Post
        Simple answer .................Mort co not above law ........so no legal rqmnt....NO EPC ...


        BUT if a tc of rem then ?

        Not had a prob personally .....but Paragon M seems to be main culprit ??/

        any views appreciated ?


        The RODENT
        Simple answer, if morgage compny require one, then no funds without one! It will have to be done at some point anyway.

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          #5
          I understand that this could be requested for new applications, though can it be applied/enforced to exisiting mortgages??
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            #6
            If you want the cash then .............(rem)

            &

            Most mort t&cs insist that you keep up with all relevent legislation and licenses etc ...........

            so would think so .....

            But Q why are they not asking to see gas safety . fire alarmcerts , lecky periodics etc...........

            The Rodent
            A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty.
            W.Churchill

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              #7
              Originally posted by Rodent1 View Post
              If you want the cash then .............(rem)

              &

              Most mort t&cs insist that you keep up with all relevent legislation and licenses etc ...........

              so would think so .....

              But Q why are they not asking to see gas safety . fire alarmcerts , lecky periodics etc...........

              The Rodent
              They work in mysterious ways
              Their wonders to perform.

              The answer is duct tape.
              'Pause you who read this, and think for a moment of the long chain of iron or gold, of thorns or flowers, that would never have bound you, but for the formation fo the first link on one memorable day'. Charles Dickens, Great Expectations

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                #8
                Originally posted by Rodent1 View Post

                But Q why are they not asking to see gas safety . fire alarmcerts , lecky periodics etc...........

                The Rodent
                This is why i ask!!!

                I know some mortgage companies have teamed up with providers and will give an extra income stream.

                If they really need all required documentation landlords need, then it is going to be a big admin task!!
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                  #9
                  Originally posted by hip-consultant.co.uk View Post
                  This is why i ask!!!

                  I know some mortgage companies have teamed up with providers and will give an extra income stream.

                  If they really need all required documentation landlords need, then it is going to be a big admin task!!

                  The letter i had was "fear " marketing .....get an epc as the m co want a copy of it ............type thing ....it missed the desk and fell in the shredder and got used for packaging for an ebay item i was dispatching ...

                  I await their wrath ...will keeoo you informed!

                  The Rodent
                  A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty.
                  W.Churchill

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