A new survey suggests two thirds of current or potential home owners would accept the idea of a mortgage interest rate based on their property’s EPC rating.
It’s a relatively small survey – just 300 existing or future owners were spoken to last year by a polling firm on behalf of Foundation Home Loans – but 67 per cent would regard a mortgage rate based on a property’s Energy Performance rating as an appealing feature of a loan.
The research also found 48 per cent of owners and prospective homeowners would consider work to improve a property’s EPC if that meant a more favorable mortgage rate.
George Gee, commercial director at Foundation Home Loans, says: “There’s no doubting we’re going to be seeing a much greater government focus on the UK’s housing stock, how its energy efficiency ratings can be improved, and how that might help the UK meet its carbon emission targets.
“To that end, there appears to be a far greater appreciation of energy efficiency within the home from individuals, and it’s positive to see two-thirds of all those polled saying a mortgage product with rates based on EPC ratings would be an appealing part of the overall product mix.”