A recent survey by Paragon Bank has revealed that a significant number of landlords may be missing out on cheaper mortgage deals — simply by failing to reassess their property’s EPC rating after making upgrades.
For landlords in Finchley and across North London, this could be a costly oversight, particularly as green finance becomes more mainstream in the property market.
According to Paragon’s research, 57% of landlords who’ve carried out energy efficiency improvements haven’t followed up with a new EPC assessment.
That means they could be stuck with outdated ratings — and in turn, missing out on access to preferential green mortgage rates, which are often reserved for properties rated A to C on the Energy Performance Certificate scale.
For those managing a portfolio, this can quickly add up to lost savings and missed opportunities.
With interest rates having fluctuated in recent years, lenders are now offering green mortgage products as a way to reward energy-efficient homes.
These products often come with lower interest rates or better terms for landlords whose properties meet higher EPC standards.
If you’ve invested in insulation, upgraded boilers, added double glazing or installed more efficient lighting, the next logical step is to get your EPC re-rated.
Without it, lenders can’t offer those discounted terms — even if your property is now significantly more efficient.
The issue is especially pressing given the current shape of many rental portfolios.
Separate research by Pegasus Insight found that 48% of the average landlord’s portfolio does not meet an EPC rating of C or above.
60% of landlords own a property rated ‘D’
25% own at least one property rated E, F, or G
This matters because the Government has proposed a legal minimum EPC standard of C for privately rented homes, though the deadline has recently been pushed back.
Still, it’s only a matter of time before tighter standards are brought in — so landlords should act now rather than later.
In Finchley, where much of the rental stock includes older Victorian and mid-century properties, energy upgrades can significantly shift a property’s EPC score.
Solid wall construction, older windows and gas heating systems are common in the area — but with the right retrofits, landlords can see real improvements.
And in a competitive rental market like Finchley, tenants are increasingly aware of running costs. A better EPC rating isn't just good for your mortgage — it can make your property more attractive to renters, particularly those watching energy bills.
If you’ve already invested in energy efficiency upgrades, don’t leave money on the table. Book a new EPC assessment and find out if your property now qualifies for a better mortgage rate.
If you're planning works, consider the long-term value — not just for compliance, but for cost savings and tenant appeal.
And if you're unsure where to start, speaking to a mortgage broker or EPC assessor with experience in PRS (Private Rented Sector) requirements can help.
A new EPC could save you thousands over the lifetime of your mortgage.
It’s a simple step — but one that many landlords are still overlooking. With the shift towards a greener rental sector well underway, getting ahead now could put you in a stronger position both financially and legally in the years to come.
Louisa Sedgwick, Managing Director of Mortgages at Paragon Bank, said: “This research aligns with Government data highlighting how millions of properties will need to be upgraded to meet the proposed new minimum energy efficiency standards. As a result, we believe the 2030 target for all rental properties is unrealistic and could exacerbate the undersupply of homes for tenants. We’ve responded to the Improving the energy performance of privately rented homes consultation, calling on Government to abandon its 2030 target and instead adopt a phased implementation between 2030 and 2035.”
At David Harris & Co, we understand what makes Finchley unique. Whether you’re buying, selling, or renting, our local expertise ensures we can guide you to the best decisions for your needs.
Ready to explore Finchley’s property market? Contact David Harris & Co for expert advice and a stress-free experience. Call us on 0208 346 9122 to get started. Let’s make Finchley your next home.
