UK banks predict that the UK's target for all homes to meet minimum energy efficiency standards by 2030 will likely be missed, with compliance possibly pushed to 2043. This delay threatens climate goals and could result in homeowners facing higher bills, decreased property values, and difficulties in selling or remortgaging. Challenges include the scale of necessary upgrades, financial and logistical barriers, and the outdated UK housing stock, with 60% of homes currently below the required EPC Band C standard.
The timescale is challenging and overly ambitious, particularly if many properties cannot be improved on time in an economically viable and cost-effective way.
As the UK's largest mortgage lender, we are concerned by the inadequate progress in decarbonising the UK's 28 million homes. The UK has the oldest and draughtiest housing stock in Europe and progress is off track.
Collection
[
|
...
]