Do you have an 'A' rated home?
The Energy Performance Certificate
Readers may now be familiar with the concept of ‘A’ – ‘E’ ratings on white goods. Designed to easily inform purchasers of the energy efficiency of a particular product, this concept will shortly apply to your home.
England and Wales have a legal duty to comply with a 2002 European Directive on energy efficiency. This legal duty will be satisfied through the controversial Energy Performance Certificate which is to form part of Home Information Pack, likely to be compulsory from 1st June 2007.
The Home Information Pack has attracted thousand of column inches of newsprint and it will continue in the run up to the summer launch date. Coverage will focus on the costs and challenges faced by sellers and the housing market. Whether the Pack will speed up transactions (as it is designed to do) remains to be seen.
Returning to Energy Performance Certificates, what are the key issues?
What is it?
It is a document, produced by an Energy Performance Inspector, which must be included in the Home Information Pack. The Certificate rates the energy performance of properties on a scale of ‘A’ – ‘G’. Rating ‘A’ is the most efficient (say a new build property with double glazing/ loft and cavity wall insulation) through to rating ‘G’ which is the least efficient (say an old property with no insulation and sash windows).
How much will an Energy Performance Certificate cost?
There is no market norm yet, but the industry is currently suggesting around £100. Market trends may well force prices down after 1 June 2007, when production costs are clearer.
Do I have to have an Energy Performance Certificate to sell my home?
Draft Regulations, soon to be laid before Parliament require the Certificate to be available, with the Home Information Pack, before a property can be marketed. Financial penalties will apply for a failure to observe this (up to £500) although whether there are enough trading standards officers to police this is another matter.
How do I find an Energy Performance Inspector?
When you are thinking of selling your home you will probably talk to an estate agent or a solicitor. Either of them will probably be able to prepare the Home Information Pack and arrange the Certificate for you. A number of other Home Information Pack providers could also help, and they would advertise their services in the normal way.
What sort of matters does the Energy Performance Certificate cover?
Typically, the Certificate will include basic property information such as whether the property is terraced, semi-detached etc, the approximate date of construction and the building materials. The report is likely to include the numbers of windows, the proportion which are double glazed and the type of heating system.
There are bound to be initial teething problems when the Home Information Packs arrive on 1st June 2007. However potential summer sellers can do a large amount to help their sale, and in the words of Baden Powell ‘Be prepared!’
Wednesday, 14 February 2007
If you are buying a 'new home' our specialist New Build team can help , or if you prefer a more tailored face to face approach visit Classic Move.
