Home Finance – In the news
Green mortgages
A recent survey1 has revealed that four out of five (83%) people have no understanding of green mortgages. Each lender’s criteria will differ, but typically they may offer a discounted rate, or cashback, if a property has an Energy Performance Certificate (EPC) rating of A or B. The government has passed legislation requiring the UK to be a net zero emitter by 2050 and as housing currently makes up 20% of emissions and around two thirds of owner-occupied homes have an EPC rating below C, it is a significant area that needs improvement.
Accidental landlords – on the rise
Recent uncertainty in the property market has seen many London homeowners become ‘accidental’ landlords has vendors decide to move their properties to the rental market, either after failing to sell or deciding they want to hold out for a better price. One estate agent2 has reported that there are around 35% more rental properties on the market compared to the same time last year.
1MAB, 2022
2Chestertons, 2022
It is important to take professional advice before making any decision relating to your personal finances. Information within this article is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK.