This compares to 32% of portfolio landlords with four to 10 properties who would do the same, but only 20% of non-portfolio landlords would choose to buy and upgrade.

For those landlords who know about the proposed EPC changes and are also aware of green mortgages, 84% of them like the incentive of a discounted interest rate. Seven out of 10 buy-to-let landlords are aware of government proposals that all rental properties must have an Energy Performance Certificate (EPC) rating of A, B or C.

The research also revealed that 68% of the landlords surveyed had properties with an EPC rating of D or lower. However, the majority of those (80%) intend to make changes to bring their properties up to at least a C rating.

Paul Brett, managing director, intermediaries at Landbay, said: “Our survey shows that most landlords are aware of the potential new EPC rulings by 2025 and many will have to upgrade their properties to a C rating.

“Some of them, especially the larger portfolio landlords with 10 or more properties, are looking at how they can turn this to their advantage.

“Buying properties and making them more energy efficient will raise the value of the property and the rental income landlords can charge, as well as reducing tenants’ energy bills. A few extra thousand pounds spent at the buying stage will be an investment for the longer term.

“As awareness of EPC requirements and green mortgages improves, I expect to see many more landlords taking advantage of the lower rates offered by the green mortgage.”