What to Prepare for in the Housing Market
Since the UK’s Prime Minister Boris Johnson announced plans to reduce the UK’s emission level by at least 68%, the UK government has initiated a target to reach net zero by 2050. Across all industries, many businesses are doing what they can to help the UK achieve this.
Not only are businesses doing what they can to reduce their carbon footprint, but this has also led to numerous changes within the property market. This includes houses being built to be more environmentally friendly and properties required to meet a good Electronic Power Control (EPC) standard. In addition to this, properties will also be expected to have electric vehicle charging stations for electric car owners, as part of the push for homes to be more sustainable.
As the housing market steers towards becoming greener, our expert team has highlighted a few changes that you should consider for your upcoming housing development projects.
For existing properties, an EPC is required for prospective buyers and tenants of a property. With an EPC, tenants and buyers can review how energy efficient a building is based on the performance potential of it.
In addition to this, an EPC also includes recommendations on how the property could be more energy efficient. Therefore, when developing new houses, it’s important to consider what your EPC rating is for your properties, as buyers and tenants may consider this when contemplating investing.
As the UK pushes for buildings to be more environmentally friendly, it is also important for developers to consider how eco-friendly their development project is. This includes building materials as well as how they will be powered.
As a developer, you should consider sourcing recycled and sustainable materials instead of non-renewable resources in order to significantly reduce the carbon footprint of the property. Therefore, using local suppliers when sourcing materials and eco-friendly products for property development will be a great way to reduce your project’s carbon footprint.
As many people across the globe are striving to be more eco-friendly, it is important to ensure that your properties are too, as this could affect the value of your property as many investors and tenants are seeking greener homes.
Energy Saving Providers
Another important aspect in development to consider is the environmental impact a property will have once there are residents living in it. Many energy providers are encouraging the use of more renewable sources of energy power such as solar panels and heat pumps for central heating. With the push for homes to operate on renewable sources of energy, it is important for you to develop your residential houses with these facilities.
Why choose us
Choosing a specialist lender to provide you with the property development finance required for your projects can help relieve the stress that you might have from going to a high street lender. At Chordis Capital, not only are we always at hand to discuss any queries, but we will also build a solid relationship with you and will shape a bespoke financial solution for your venture. Therefore, we also offer our clients a variety of different mortgage options, from residential property development finance to commercial development finance, where the property is being converted to residential.
We are supervised by the FCA and registered with the ICO to protect your data, so you can be confident, when working with us, that we will put you at the heart of what we do.