If you are a landlord of a commercial property, you may be familiar with the importance of Energy Performance Certificates (EPC). A new deadline of 1 April 2023 is fast approaching, following a government consultation in 2019.
Green mortgages can also be used for property that needs complete renovation to raise energy efficiency ratings and can include work to add solar panels, window upgrades or replacements, a new boiler, air source heat pumps, and electric charging points.
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The majority of HMO lenders will lend on the vacant possession value of the property (or bricks and mortar), despite the rental income received from letting to multiple tenants.
The simple answer is, yes. If we assume that the property is your residential home and you have a residential mortgage, the majority of mortgage terms will require you to obtain a 'consent to let' before you can let it.