The Green Finance Institute (GFI) has launched a guide to educate mortgage intermediaries about different green home retrofit solutions and technologies.
The Broker’s Handbook has been developed with partners including the Association of Mortgage Intermediaries (AMI), Building Societies Association (BSA), Energy Savings Trust, Equity Release Council, the Green Finance Institute, the Intermediary Mortgage Lenders Association (IMLA), L&G Mortgage Club, the Mortgage Climate Action Group (MCAG) and UK Finance.
The handbook aims to help accelerate the decarbonisation of the UK’s homes and provides brokers with a practical guide to understanding opportunities in the mortgage sector by improving home energy efficiency.
GFI launches the handbook after the green mortgage sector has seen growth over the last four years with products increasing from three to more than 50.
The resource will help intermediaries identify the opportunities and risks, quality assurance standards, and benefits across the housing value chain, as well as the policy landscape for home energy efficiency.
The recently announced Chris Skidmore Net Zero Review included targets for all homes sold in the UK to be a minimum energy performance certificate (EPC) of C by 2033.
GFI says if implemented, it would introduce a new timeline for improving the energy efficiency of the UK’s inefficient housing stock.
There is consumer interest for more financial products being offered on green solutions, driven in part by soaring energy bills across the UK.
GFI built environment director Emma Harvey-Smith says: “Rising prices are causing widespread concerns for both domestic and commercial energy consumers.”
“Mortgage Brokers are a key part of the puzzle when it comes to facilitating better insulated homes that cost less to heat, and support a net zero future.”
“We’re delighted to be launching this handbook, developed with experts across the market, to provide the clarity needed for Brokers to now be armed with enough information to fully support customers and clients on this journey.”
GFI highlights that the Rightmove Green Homes Report found that improving a home from an F to a C EPC rating could add an additional 16% to its value.
Meanwhile, the same report found that 89% of homeowners are looking to make green improvements in order to save money on energy bills.
