LED lighting, double glazing and smart meters revealed as landlords’ go to energy efficiency upgrades

By Bridging Loan Directory 14th March 2023

According to UK landlords, LED lighting is the most popular and effective way of improving a property’s energy efficiency, a new survey has revealed.

Market Financial Solutions has commissioned an independent survey of 459 UK landlords.

It found that 56% of landlords say that the sustainability of their property is important to them, irrespective of changing energy performance certificate (EPC) regulations.

When asked about the adaptations that they had already made to boost efficiency, LED lighting was the most popular change (42% have made this change to their properties), with a significant majority (67%) of those that had made the change saying that it had worked.

Further, most (73%) of those that have not replaced old lightbulbs with LEDs said that they plan to in the next 12 months.

Investing in double or triple glazing (39%), using smart meters (38%), adding wall or loft insulation (34%) and installing energy-efficient kitchen appliances (29%) were the other most common energy efficiency upgrades that UK landlords have made to their properties.

Conversely, at the bottom of the list, less than a fifth (18%) have replaced their property’s boiler with a carbon neutral heat pump, while 44% of those who had made the change said that it had not made any notable improvement to the property’s energy efficiency.

Paresh Raja, CEO of MFS, said:

“Sustainability and energy efficiency have become increasingly important in recent years as the climate and energy crises worsen.

As such, it’s encouraging that our research shows so many landlords have already boosted their properties’ energy efficiency credentials, while plenty more have plans to improve the sustainability of their homes in the future.

Clearly, upgrades such as replacing old lightbulbs with LEDs can be relatively affordable.

However, in the current economic climate, making more substantial improvements – such as investing in double glazing or installing loft insulation – may be financially out of reach for some landlords.

So, by working with brokers, lenders must be on hand to provide flexible financial products that will help landlords make the changes their properties need.”