Hip view (Home Information Packs and Energy Performance Certificates EPC

Recently the government announced a mortgage rescue scheme. It consists of a £200m package designed to prevent some of the most vulnerable home owners getting their homes repossessed. Now like me you may be wondering, how will it work and will I benefit from it?

Mortgage Rescue will operate by bringing together local authorities, Registered Social Landlords (RSL), lenders and debt advice agencies. The two elements work in the following ways:

                Shared equity - RSL provides an equity loan enabling the householders’ mortgage repayments to be reduced.

                Government Mortgage to Rent - RSL clears the secured debt completely and the applicant pays rent to the RSL at a level they can afford.

The level of grant to a RSL will be determined using the Homes and Communities Agency’s value for money assessment criteria after a Money Adviser has advised on the most appropriate route after establishing a household’s affordable housing costs.

Who will it help (and how many)?

This scheme will not help those who are in negative equity. It is subject to a set of eligibility tests. Depending on individual circumstances, there are two possible options for those eligible:

                Shared equity
Those who have an equity share in their homes and are facing a payment shock from remortgaging and/or higher living costs but likely to retain current income.

                Government Mortgage to Rent
Those who are unable to meet lenders’ requirements eg those on unstable incomes. Those who are more suited to social tenancies.

The government are introducing regular inspections for air conditioning systems. By 4 January 2009 all air conditioning systems over 250kW must have their first inspection, and by 4 January 2011 all air conditioning systems over 12kW must have their first inspection.

The trigger for air conditioning systems inspections is the size (effective rated output) of the system not the type of building and so the measures apply to homes, commercial and public buildings.

The inspection which is done by an accredited energy assessor will include an assessment of efficiency, a review of their sizing and advice on improvements or replacements and alternative solutions.

The government is considering introducing a levy on domestic Energy Performance Certificates to pay for the expansion of the system used to assess the energy efficiency of houses.
This comes as the government prepares to retender the contract for the Standard Assessment Procedure (SAP) for energy rating dwellings, currently run by BRE, according to sources.
Under the plan, £10 from every EPC would go towards reforming SAP and measuring the actual performance of homes rated under the system.
It is thought the government spends between £500,000 and £1m a year on SAP. It is unclear how the charge would be policed.
Liz Reason, from the Association of Environment Conscious Building (AECB), said: “A £10 levy on an EPC would generate a pot of money to start making SAP closer to the reality of what goes on in buildings.”
BRE developed SAP for Part L of the 1995 Building Regulations but its role in rating homes with high levels of energy efficiency has become controversial.
Should firms undertaking EPCs pass the levy on to housebuyers?