The Goverment to scrap landlord EPC requirements.

[no_dependent4663]

To me, this was the single most disappointing part of Sunak's cowardly bonfire of Britain's renewable future

 

[Clarky Cat]

The next general election is within the next 16 months. I'm doubtful this electioneering will turn the tide so I'd treat it as a temporary reprieve before the screw is turned tighter.  At present the Labour plan is for a renters' charter as one of its first actions - I can't see how this wouldn't include energy efficiency in it. 

Edited September 23, 2023 by Clarky Cat

[Timm]

The funny thing is, a lot of the better landlords are absolutely furious with this U-turn - because they have already done the work and are now competing with the less good landlords who have not.

[Armus]

Yeah, Labour will reverse this again so will probably still happen.

[Clarky Cat]

10 minutes ago, Timm said:

The funny thing is, a lot of the better landlords are absolutely furious with this U-turn - because they have already done the work and are now competing with the less good landlords who have not.

It's ridiculous isn't it. If you rephrase it:

"Tenants don't deserve to live in warm, well insulated houses, say rubbish landlords"

[Si1]

19 minutes ago, Timm said:

The funny thing is, a lot of the better landlords are absolutely furious with this U-turn - because they have already done the work and are now competing with the less good landlords who have not.

This govt is a joke for that kind of reason. Very poor governance.

I'm guessing the car industry isn't too chuffed over his electric car flip flopping for a similar reason.

[Pebbles]

Very disappointed. Even if the cost is passed into tenants it was worth doing.

[Englaender]

This is so disappointing for so many reasons. Just watch all those properties for sale that were just being marketed as ideal for FTBs also be described as ideal for BTL again too.

[jiltedjen]

Think they knew it would thin out the landlord herd. trigger some tasty capital gains tax also.

they have now been faced with 130% increase of landlords falling behind mortgage payments, and BTL banks potentially looking wobbly.

so they backed off, as it fits their narrative of ‘caring about people’ after the incredibly nasty labour ULEZ policy (not being means tested) 

Edited September 23, 2023 by jiltedjen

[Blobsy]

10 hours ago, jiltedjen said:

Think they knew it would thin out the landlord herd. trigger some tasty capital gains tax also.

they have now been faced with 130% increase of landlords falling behind mortgage payments, and BTL banks potentially looking wobbly.

so they backed off, as it fits their narrative of ‘caring about people’ after the incredibly nasty labour ULEZ policy (not being means tested) 

'Caring Conservatives'. Pass me the sick bag.

[erat_forte]

18 hours ago, no_dependent4663 said:

To me, this was the single most disappointing part of Sunak's cowardly bonfire of Britain's renewable future

 

I don't believe Britain ever had a "renewable future". It was all just marketeering and "greenwashing".

 

[ftb_fml]

48 minutes ago, erat_forte said:

I don't believe Britain ever had a "renewable future". It was all just marketeering and "greenwashing".

 

+1.

[70PC]

18 hours ago, Timm said:

The funny thing is, a lot of the better landlords are absolutely furious with this U-turn - because they have already done the work and are now competing with the less good landlords who have not.

👍👍👍

It is one chaotic decision after the other.

[staintunerider]

On 23/09/2023 at 13:25, Clarky Cat said:

 

"Tenants don't deserve to live in warm, well insulated houses, say rubbish landlords"

"Tenants don't deserve to live in warm, well insulated houses, say RUBBISH MORTGAGED TO THE HILT WITH SOMEONE ELSE'S MONEY INTEREST ONLY landlords"

[staintunerider]

On 24/09/2023 at 08:15, 70PC said:

👍👍👍

It is one chaotic decision after the other.

I just wish Sunak would throw in the towel and decamp to the US asap, I give him less than 2 years in this country before he's off...

[LetsBuild]

On 23/09/2023 at 13:34, Si1 said:

This govt is a joke for that kind of reason. Very poor governance.

I'm guessing the car industry isn't too chuffed over his electric car flip flopping for a similar reason.

The car one was obviously going to be flipped, I don’t think any car manufacturer really believed it. I think it will be flipped again on the 2035, by most world governments.

[Casual-observer]

37 minutes ago, staintunerider said:

"Tenants don't deserve to live in warm, well insulated houses, say RUBBISH MORTGAGED TO THE HILT WITH SOMEONE ELSE'S MONEY INTEREST ONLY landlords"

To be objective though this was always going to happen under the current structure of the housing market and how the nation is operated.  

The EPC deadline was always simply going to mean that a lot of Landlords would milk their current assets until that deadline hit and then sell them off. Again when the lions share of the profit in BTL and generally being a landlord entirely sits on asset appreciation then this was inevitable. 

The EPC deadline would have been more credible if the above dynamic changed whereby the main profit on being a landlord sits on the rental yield, that would therefore encourage these landlords to maintain the actual asset. 

The Governments equally put itself in a hole by allowing too much immigration, there's simply not enough decent stock around to have made that deadline credible. 

Very few people under the current environment are going to throw in thousands to bring a Victorian era terrace up to spec to reign in a paltry 5% yield. I certainly wouldn't. 

Edited September 26, 2023 by Casual-observer

[staintunerider]

4 hours ago, Casual-observer said:

Again when the lions share of the profit in BTL and generally being a landlord entirely sits on asset appreciation then this was inevitable. 
 

Well I figure that part of the game is over....so no piece of that pie for newbies and the one's long in the game will start to see their gains unwind....if they sell they will look CGT down the barrel on any gain...

[Casual-observer]

17 minutes ago, staintunerider said:

Well I figure that part of the game is over....so no piece of that pie for newbies and the one's long in the game will start to see their gains unwind....if they sell they will look CGT down the barrel on any gain...

Agreed but it screams to me how unsustainable the rental market is. 

There's just no money in it at present to throw in investment to improve the bang average rental...none. 

With the EPC deadline scrapped, where's the impetus. The whole thing is crying out for reform. 

[EnglishinWales]

There are no good landlords.

[Confusion of VIs]

9 hours ago, Casual-observer said:

Agreed but it screams to me how unsustainable the rental market is. 

There's just no money in it at present to throw in investment to improve the bang average rental...none. 

With the EPC deadline scrapped, where's the impetus. The whole thing is crying out for reform. 

It's a bung to the governments BTL landlord friends. The rest of the net zero changes were just cover for the bung.

If you look at the detail of the polict anniuncement, the delay to banning ICEs is irrelevant as the interim EV targets up to 2030 remain and failing to meet them will costs manufactures £15,000 for each ICE sold over quota.

Same goes for heat pumps, each year boiler manufactures have to install a rising proportion of heat pumps failing to meet that target will cost them £5,000 per excess gas boiler.    

Half of new cars sold in the UK will have to be electric within five years despite Rishi Sunak's delay to the ban on new petrol and diesel car sales (msn.com)

Edited September 27, 2023 by Confusion of VIs

[Saving For a Space Ship]

The prime minister can't bring himself to say private landlords

https://www.insidehousing.co.uk/home/home/the-prime-minister-cant-bring-himself-to-say-private-landlords-83279

[Gigantic Purple Slug]

I don't think it is just about subbing landlords.

At the moment the rental market is difficult and becoming increasingly dysfunctional for landlords and tenants. Yes landlords may be seeing increasing costs (a good thing?) but tenants are finding it increasingly difficult to find good accommodation.

That is leading to a shortage of rental housing - and things like these EPC requirements were not doing anything to help that.

I'd like to see some sort of half way house between the two. For example it should be mandatory for any house that is let to have double glazing and a certain mm of loft insulation. Let that run for a few years and then move on to something else.

The problem with all these moves is they are throwing the baby out with the bathwater. Ending an opportunity to improve housing stock completely, rather than just scaling it back.

[Englaender]

16 hours ago, EnglishinWales said:

There are no good landlords.

I have to disagree with that.

Whilst my landlord at uni was pretty much as you'd expect, having spent the bare minimum on the house, we did get our deposits returned in full, with the managing agent commenting on how we'd (I'd) vacuumed the tops of the skirting. I suspect they didn't bother getting another cleaner in before the next tenants moved in.

The only time I've rented since then, I had an excellent landlord. The flat was his mother's which he'd insured and refurbished beautifully before we moved in.

The only issue we had was when a leak sprung under the bath shortly before midnight. Whilst he missed my initial call, he rang back minutes later, told us to leave the water off overnight and he'd be over first thing.

As promised, he arrived, assessed and identified the issue, apologised and reassured is it wouldn't affect our deposit, left it so we could turn water back on and returned later to fix it.

He was in the plumbing trade, which obviously helped, but exactly what a landlord should be.

BTL Slumlords are a completely different kettle of fish.

[MancTom]

3 minutes ago, Englaender said:

I have to disagree with that.

Whilst my landlord at uni was pretty much as you'd expect, having spent the bare minimum on the house, we did get our deposits returned in full, with the managing agent commenting on how we'd (I'd) vacuumed the tops of the skirting. I suspect they didn't bother getting another cleaner in before the next tenants moved in.

The only time I've rented since then, I had an excellent landlord. The flat was his mother's which he'd insured and refurbished beautifully before we moved in.

The only issue we had was when a leak sprung under the bath shortly before midnight. Whilst he missed my initial call, he rang back minutes later, told us to leave the water off overnight and he'd be over first thing.

As promised, he arrived, assessed and identified the issue, apologised and reassured is it wouldn't affect our deposit, left it so we could turn water back on and returned later to fix it.

He was in the plumbing trade, which obviously helped, but exactly what a landlord should be.

BTL Slumlords are a completely different kettle of fish.

I've had more good landlord than bad. And the good ones said they had had more bad tenants than good - had comments such as "can't believe how clean the house is" on check-out twice, others moaning about horrific (I would agree it is, if true) past behaviour by tenants. One even wrote a long letter to me thanking me for being such a good tenant and saying he would never find one as good again!