Survey shows people unaware of EPC ratings

December 8, 2021 by Heidi

Home owners

The results of a new survey show that the majority of property owners have no idea what the current energy performance certificate (EPC) rating is for their homes.

This survey was carried out by the Mortgage Advice Bureau, and it reveals that only one out of every four property owners – which amounts to one quarter of them – knows the EPC rating for their properties. It is those who are younger that are more likely to be aware of it, with 38% of those in the 24-28 age bracket knowing the rating of their homes.

In comparison, just 16% of older ‘baby boomer’ homeowners know what the EPC rating for their property is. Indeed, 35% of those that the Mortgage Advice Bureau spoke to for its research were not even sure what precisely the EPC rating means – suggesting a lot of work is needed to educate property owners about the issue.

Both homeowners and people who let out their properties can potentially get better mortgage interest rates if they can improve this rating, by switching to a ‘green’ mortgage. This means there is a real financial incentive that can be used to engage people.

Brian Murphy from the Mortgage Advice Bureau pointed this out, adding:

“However, the government has a vital role to play in improving consumer engagement and awareness on EPC ratings and their plans to decarbonise homes.”

Mortgage advisors with a CeMAP qualification should emphasise this to clients looking to remortgage, given the clear financial benefits in bettering the EPC rating for their properties.