UK Money News
14th July 2008
Landlords' risk fine through EPC ignorance
The majority of landlords are unaware of legislation that could leave them paying a hefty fine, it has been discovered.
A survey from Paragon Mortgages found that 55 per cent of landlords do not know that they are legally obliged to provide prospective tenants with an Energy Performance Certificate (EPC) from October 1st.
This is despite the fact that the fine for failing to do so is £200.
However, the real cost could be considerably more since those found to have breached the rules are likely to be prohibited from marketing the property for a short time - potentially leading to costly void periods in which the property is unoccupied.
A statement from the specialist buy to let lender read: "Landlords need to ensure they are ready for October 1st, otherwise they could find they cannot market their property for let.
"Burying your head in the sand is not an option."
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