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Green Finance Institute releases lender handbook

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  • 06/10/2021
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Green Finance Institute releases lender handbook
Green Finance Institute has brought out a lender handbook to give financial institutions practical information on different green home technologies and funding options.

 

The handbook has been endorsed by UK Finance and the Building Societies Association (BSA) and outlines key energy efficiency, microgeneration and resiliency technologies available to homeowners.

Each section of the book explains each technology, covering costs, carbon savings and benefits, along with funding options, guarantees and quality assurances available.

Mitigating environmental impacts of housing has risen up the agenda of mortgage lenders as proposed regulation might require providers to improve the average rating of the homes they lend on to an EPC rating of C by 2030.

Lenders have also been releasing more green mortgage products, and sourcing systems Iress and Twenty7Tec are planning on adding green mortgage filters later this year.

Chief executive of UK Finance, David Postings, said: “Greening our housing stock is vital if we are to meet our climate change obligations and banks and finance providers are committed to helping achieve this goal and making sure consumers are not left behind.

“This handbook provides a helpful resource for lenders hoping to better understand current green retrofitting technologies and will help them support customers in making their choices.”

Paul Broadhead, BSA’s head of mortgages and housing policy, added: “We often hear phrases such as retrofit plans, or low-carbon technologies, without always knowing what these are or how they work in practice.

“This handbook provides vital information for mortgage lenders looking to understand more about how to help customers decarbonise their homes, it fills an important knowledge gap. Looking forward we also need government to help educate the public and provide clarity on how they will support them to improve the energy efficiency of their homes.”

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