Homes built before 1919 risk Halifax mortgage penalty | Personal Finance | Finance [Video]

Homeowners buying and selling older draughty properties face a new penalty under Britain’s net zero drive, it is claimed.

The Halifax has announced a new regime that will see it decide how much it is willing to lend on a property by taking into account its green rating based on its Energy Performance Certificate (EPC).

Properties with a bad EPC rating are assumed to be more expensive to run, in terms of heating, hot water and cooking, which means any buyer would have less cash available to cover mortgage repayments.

These calculations will be taken into account when banks and building societies, such as the Halifax, decide how much they are prepared to lend.

The net effect of the change, which is expected to be followed by other banks and building societies, could create a two-tier market which benefits newer properties over older homes, which do not have the same level of …