HALIFAX is making a big change to mortgage rules from today affecting how much millions can borrow.
One of the UK’s biggest lenders will start using properties’ Energy Performance Certificate (EPC) ratings when deciding how big a home loan to offer borrowers.
An EPC is a document that ranks how energy-efficient your home is, with A the most efficient and G the least.
Properties with EPC ratings of A and B will be able to get bigger home loans from Halifax.
Meanwhile, homes with the lower F and G ratings will see a reduction in the maximum loan amount offered.
Properties with EPC’s of C, D or E will not be included in the change coming into effect from today.
The new rule will apply to all buying, remortgage or further advance mortgageswhere a full affordability assessment has been …