Landlords now have to show tenants their green credentials

Landlords now have to show tenants their green credentials

New landlords will have to show their tenants a certificate rating the energy efficiency of their property from Wednesday. Energy performance certificates, or EPCs, are already a mandatory part of the Home Information Pack provided by anyone selling a home but, from 1 October, the certificate must also be available for prospective tenants to review. Existing landlords who are starting a new tenancy will also need to provide an EPC for review.

The EPC will give the property an energy rating on a scale from A to G, with A the most efficient. The certificate will also contain recommendations to improve the property's energy efficiency, costs of the recommendations, typical savings per year and an estimated performance rating after improvement. Landlords are under no obligation to carry out any of the improvements.

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Although the number of people renting properties has increased by 20 per cent in the last three months, the majority of landlords still haven't obtained an EPC for their property ahead of the deadline, says John Heron, managing director of buy-to-let specialist Paragon Mortgages, which is advising landlords to get their EPCs as quickly as possible.

EPCs cost from £50 to £150, depending on the firm carrying out the energy assessment. Failure to comply with the legislation could result in a £200 fine.

Landmark Information Group (hcrregister.com/searchassessor.html) has a list of accredited energy assessors.

Fashion stores increase interest on cards

Interest rates on store cards are rising, making it even more important for store cardholders to pay off their balances on time. Fashion chains Karen Millen and Oasis have both raised the interest rates on their cards from 24.9 per cent to 28.9 per cent, while Principles has gone from 24.6 per cent to 28.9 per cent. They have also cut the minimum payment required each month from 4 per cent of the outstanding balance to 3.65 per cent.

'Some people might think it's brilliant that their minimum payment has been cut, as they could pay less each month, but [doing that] could cost you a lot of money in interest and it will take you far longer to pay off,' says Michelle Slade, analyst at price comparison site Moneyfacts.co.uk. While many retailers offer discounts to those taking out a store card, Slade warns that shoppers should think twice before signing up.

Cheap international calls on new free Sims

A new pay-as-you-go Sim card is promising to help mobile phone users cut their bills by offering reduced rates on international calls. Lycamobile Sim cards can be slotted into an existing mobile handset when the user needs to make an international call, with costs starting at around 4p a minute.

The Sim card comes free when you purchase your phone credit. Users can top up by £5, £10 or £15 online at lycamobile.co.uk.

Last week telecoms regulators in Brussels, who first cut the cost of international calls last summer, also moved against 'rip-off' text charges. The cost of sending an SMS for consumers on holiday or travelling abroad for business will fall by 60 per cent, from a European average of 23p to 9p.

The EU's top telecoms official, Viviane Reding, said she was putting the new rules forward because mobile-telephone companies had not responded to her call for them to lower the roaming charges for sending or receiving text messages outside a user's home nation.

Overdraft warning for pushy parents

Parents are being warned not to stray too far into their overdrafts to fund their children's expectations.

According to the latest NS&I savings survey, parents are putting their financial priorities on the back burner so that their children can get ahead. Nearly 30 per cent of parents are going into their overdrafts, taking out a loan or using credit cards because they don't want their children to miss out on the 'best opportunities', such as music and sports lessons, cultural trips or extra tuition. Meanwhile, over 76 per cent have cut down on socialising and over 50 per cent work longer hours to earn more money for their family.

Tim Mack, senior savings spokesman at NS&I, says parents need to budget and prioritise to stay in control when contemplating spending on the kids.

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