– It is now a legal requirement to provide an EPC if you are building, selling or letting a property.
– Failure to provide an EPC comes with a penalty charge from Trading Standards.
– The fine is 12.5% of the property’s current rateable value with a minimum charge of £500 and maximum of £5,000.
– An EPC has to be made available when giving information about the building or conducting a viewing.
– It is required before you enter any contract to sell a property, grant a new lease or assign an existing lease.
– Landlords have to provide an EPC free of charge when requested by a prospective buyer or tenant.
– An EPC will provide an energy rating for the property which is measured from A to G.
– The EPC demonstrates the energy efficiency of the building, allowing buyers or tenants to make an informed decision.
– The EPC is valid for 10 years.
– Receivers, Liquidators and Pension Funds will also need an EPC to be completed before any sales transactions can take place.