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Principality partners with Sero to accelerate green mortgage development

  • 11/10/2021
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Principality partners with Sero to accelerate green mortgage development
Principality Building Society has partnered with Cardiff-based energy tech company, Sero, to help it develop a green mortgage for new and existing customers.


Using the firm’s technology and Building Passport app, the mutual will hope to gain a better understanding of its portfolio’s energy performance and carbon impact. 

It will allow customers to find out their home’s carbon footprint and ways to make their properties energy efficient. The data will also track the home’s progress to becoming net zero. 

The pilot project will see the use of Sero’s Capture app to log data and understand more about each individual home. This data will be used to create a digital ‘Building Passport’, which will set out the current building status as well as a route to becoming more efficient. 

It will initially be rolled out to a small group of the mutual’s employees, before being expanded with an ambition to be launched to all customers next year. 

The aim is that pilot homes will be offered the opportunity to implement the measures outlined in the identified ‘Pathway to Zero’ through additional borrowing. Sero will supply technical validation of the retrofit works. 

Sero is already working with Monmouthshire Building Society on a similar project. 

Ben Joakim, head of strategy at Principality Building Society said: “We’re excited to announce the first step in a partnership with Sero to explore how we can support our members to reduce the carbon footprint of their homes, living more sustainable lives.  

“We will work with James, Andy and the Sero team to understand how we can roll this out to our members across Wales over the coming years.”

James Williams, co-founder and chief executive at Sero, added: “Partnering with Principality is a fantastic opportunity to increase the awareness around net zero and the impact changes to homes can make. As well as knowledge and understanding, access to finance is going to be critical to enable more people to start to take that journey to decarbonising their home. 

“By providing each customer with a tailored plan, alongside the necessary data to support access to green finance products, we can begin to ensure that for more and more people, decarbonising their home will become an attainable decision that enables them to take that first step on their pathway to zero.” 

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