The lender is offering 1,000 free property assessments aimed at showing landlords what improvements are needed to reach an EPC ‘C’ rating.
The Mortgage Works is piloting a support package to help landlords meet new energy efficiency standards by 2030.
The lender is offering 1,000 free property assessments in partnership with Eco Approach, aimed at showing landlords what improvements are needed to reach an energy performance certificate (EPC) ‘C’ rating and providing tailored recommendations, estimated costs, information on exemptions and grants, plus support with the work.
Additionally, The Mortgage Works has launched two new further advance products with discounted rates.
The 2- and 5-year fixed rates are set at 2.99%, around 2% below the standard further advance rates, available up to 75% loan-to-value (LTV) for buy-to-let (BTL), BTL large portfolio and limited company customers.
Research from The Mortgage Works found that two-thirds of landlords are unaware of the upcoming minimum EPC ‘C’ requirement, and 73% do not know when the new regulations start.
More than half of landlords would welcome help identifying cost-effective improvements and guidance on financing.
Dan Clinton, head of BTL at The Mortgage Works, said: “We know many landlords are still grappling with the upcoming Minimum Energy Efficiency Standards, and our new assessment with Eco Approach gives landlords clear insight into what is needed to meet their obligations.
“By having the free property assessments with Eco Approach, along with The Mortgage Works’ discounted Energy Efficiency Further Advance products, we aim to remove the uncertainty and some of the cost barriers.
“Improving energy efficiency isn’t just about meeting future standards, it can also enhance property values, boost rental yields and create more comfortable homes with lower energy bills for tenants.”
Clinton added: “We’re committed to helping our landlord customers act now so they’re better prepared for the changes ahead.”
Lee Rix, managing director at Eco Approach, said: “We are proud to be working with The Mortgage Works on this important initiative, helping landlords understand the improvements needed across their properties and giving them a clear, practical route to action.
“Combining discounted lending products with Eco Approach’s retrofit expertise means landlords can rest assured that high-quality installations, underwritten by insurance-backed guarantees, will assure compliance with the new legislation.
“Our resident-first approach is designed to make the journey smooth and informed for landlords and tenants alike, supporting better property performance and homes that are warmer, healthier and more affordable to run.”
David Hollingworth, associate director at L&C Mortgages, said: “The clock is ticking for landlords to improve the energy efficiency of their properties and the sooner that they start to think about the necessary steps, the easier it should be to manage the work and expenditure.
“Although many landlords will realise that they will need to take action, it can be hard to know where to start.
“It’s therefore important to be able to pinpoint a practical plan to work towards the necessary standards.”
Hollingworth added: “Being able to evaluate and understand the size and cost of the job, followed by tailored advice on the options to fund improvements should help avoid a last-minute panic as deadlines approach.”