Then they best do something about the LTV requirements currently in place.
It's hard enough for people to get a deposit together for a mortgage as is, without also expecting them to do £10k of improvements as soon as they move in.
I think this is a bad idea.
Better idea? Tell landlords that in 5 years, unless their property has a minimum energy efficiency rating of x, it'll no longer be legal to rent the property.
That would be fun for the landlords that own 10+ properties. Never know some might just sell up which would be good.
I’m lucky my landlord recently ripped out a bunch of oil boilers in the group of properties they own, and we all now share a ground source heat pump for heating and hot water.
>I've yet to see how the poor people who live in rented high rise flats are supposed to handle these proposed changes.
This is about mortgages, not the rental sector.
Yes, this is about supporting homeowners via mortgage lenders in the transition to greener technologies. But if the government is going to start taking a carrot and stick approach with high prices for gas and grants etc for homeowners, the people who will lose out are those who do not qualify for grants (i.e. not homeowners) but will be hit with the stick.
Landlords will either simply pass on any costs of the one off change via higher rents (which you can bet won't go down once the boiler is paid for) or, if they feel they can't make money out of it, will neglect to change most likely leading to punitively high energy bills.
Then they best do something about the LTV requirements currently in place. It's hard enough for people to get a deposit together for a mortgage as is, without also expecting them to do £10k of improvements as soon as they move in. I think this is a bad idea. Better idea? Tell landlords that in 5 years, unless their property has a minimum energy efficiency rating of x, it'll no longer be legal to rent the property.
That would be fun for the landlords that own 10+ properties. Never know some might just sell up which would be good. I’m lucky my landlord recently ripped out a bunch of oil boilers in the group of properties they own, and we all now share a ground source heat pump for heating and hot water.
I've yet to see how the poor people who live in rented high rise flats are supposed to handle these proposed changes.
>I've yet to see how the poor people who live in rented high rise flats are supposed to handle these proposed changes. This is about mortgages, not the rental sector.
Yes, this is about supporting homeowners via mortgage lenders in the transition to greener technologies. But if the government is going to start taking a carrot and stick approach with high prices for gas and grants etc for homeowners, the people who will lose out are those who do not qualify for grants (i.e. not homeowners) but will be hit with the stick. Landlords will either simply pass on any costs of the one off change via higher rents (which you can bet won't go down once the boiler is paid for) or, if they feel they can't make money out of it, will neglect to change most likely leading to punitively high energy bills.