The Telegraph published an article yesterday which described how banks will not be allowing mortgages on “energy inefficient” homes.
The Telegraph also notes how this policy is despite Installed Prime Minister Rishi Sunak saying the public should not be burdened with the cost of “net zero.” The implication is that it is only the commercial lenders who are attempting to impose draconian “net zero” policies.
Do not be fooled by Sunak’s smooth talking or by any other Member of Parliament, regardless of party affiliation, who voted in favour of the UK Energy Bill and is now claiming that they do not agree with the rollout of financial institutions’ “net zero” policies.
They may disagree with the power and control being in the hands of the large multi-national lenders rather than the Government, but they do not disagree with the principles of “net zero.” As has become glaringly obvious, “net zero” policies, regardless of who is attempting to implement them, do not recognise and, in fact, are a blatant attempt to strip us of our human rights while ignoring our inalienable rights.
For the sake of public interest, we have reproduced The Telegraph’s article below. The two rogue financial institutions named in the article are Natwest, the largest business and commercial bank in the UK, and Nationwide Building Society, the UK’s second-largest mortgage provider and the largest building society in the world with over 16 million members.
The UK government owns approximately 39% of the shares in Natwest.
The following is the article titled ‘Banks commit to onerous ‘green’ plans despite Sunak net zero rollback’ published by The Telegraph on 5 October 2023.
Banks are sticking to green pledges that require borrowers to spend thousands making their homes more energy efficient, despite Rishi Sunak saying the public should not be burdened with the cost of net zero.
Last month Mr. Sunak removed targets for mortgage lenders that would have forced them to ensure the properties on their loan books have Energy Performance Certificate (“EPC”) ratings of C or better by 2030. He said he wanted to “ease the burden” of net zero on families and working people.
EPC rating rules were brought into law in 2018 and required all privately rented properties in England to be above a certain standard of energy efficiency.
On top of this, the Government proposed introducing voluntary targets for mortgage lenders to ensure properties on their loan books have ratings of C or better by the end of the decade.
But, despite Mr. Sunak scrapping or pushing back a string of net zero requirements, including the looming rules for landlords, large lenders including Nationwide Building Society and NatWest are still sticking to pledges to make 50pc of their mortgage customers’ homes EPC rating C or more by 2030.
It means mortgage customers whose homes do not meet the standard face spending thousands on upgrades such as insulation, double glazing and heat pumps.
According to the Department for Levelling up, Housing and Communities English Housing Survey, published last year, 18pc of private rental properties would require more than £10,000 to bring up their homes to an EPC rating of C. Those who do not meet these standards, face being turned down for loans.