Real Estate

Official Boiler Upgrade Scheme launches today

The government’s Boiler Upgrade Scheme launches today amid fears that landlords will need longer-term funding to help them meet energy efficiency targets.

Grants to encourage property owners in England and Wales to install low carbon heating systems such as heat pumps are now on offer, allowing landlords to claim £5,000 towards the cost of an air source heat pump, £6,000 for a ground source heat pump, or £5,000 for a biomass boiler if the house is in a rural location and not connected to the gas grid.

An installer will apply for the grant on their behalf and the value is then taken off the price paid.

Landlords can still apply under the three-year scheme if they have received separate funding for energy efficiency upgrades such as insulation, doors or windows.

Anyone applying must have a valid Energy Performance Certificate, typically issued in the last 10 years.

However, Propertymark believes a national retrofitting programme backed up by longer-term funding is what’s needed now.

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Timothy Douglas (pictured), head of policy and campaigns, says pockets of funding are starting to emerge, but that they are just a “drop in the ocean”.

“The property sector needs a national retrofitting programme that’s linked to realistic and achievable targets and dedicated, long-term grants that take into account the age, condition, and size of properties,” adds Douglas.

“Unless landlords and homeowners are given sustained financial incentives, it is unlikely any real progress will be made in helping them to cut carbon emissions and reduce energy bills.”

The government has proposed that new rental properties will require an EPC rating of C or above by 2025, followed by all tenancies from 2028. Along with the new grants, it also introduced a 0% VAT rate on selected energy efficiency materials in the recent Budget.

Find out more about how to apply.

Source
Official Boiler Upgrade Scheme launches today is written by Nigel Lewis for www.landlordzone.co.uk

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