The Mortgage Works (TMW) recently started offering the incentive of free Energy Performance Certificates (EPCs) with some of its buy-to-let remortgage range.

As of 1 st October it will become a mandatory requirement for all landlords wishing to market a property to have an EPC. Failure to provide an EPC after that date could result in a £200 fine and the property being withdrawn from the market until one is obtained. TMW claims to be the first buy-to-let lender to offer free EPCs and has put together a package that also includes free valuation and legal fees.

Pierre-Jean Stracuzzi, director of Peter John Independent Mortgage Brokers, is unsure as to how much of an incentive free EPCs will be. He told PIN: “With EPCs only costing £69-£85 this appears to be more of a marketing tool for TMW rather than a real saving for landlords. We are not going to be inundated with requests for TMW products just because of their EPC offer. The most important thing for investors is to look at the global picture and assess the total cost of the mortgage.

“I think that some other lenders may follow suit but it is unlikely to be adopted by the whole sector. Free EPCs may become more of an incentive when a borrower is trying to decide between two products that are essentially the same.”