Rightmove’s solution is supported by data from flood and climate data specialist Ambiental Risk Analytics.
The solution will provide flood, subsidence, coastal erosion and energy performance certificate (EPC) data, as well as support and training to help the mutual meet regulatory compliance requirements.
The EPC dataset covers the current and potential EPC rating of over 16.8 million homes, and modelled ratings for a further 13 million homes.
It will also assess every property on the mutual’s back book for current and future risks over an 80-year period.
Aidan Walker, credit risk manager at Skipton Building Society, said: “We’ve made big strides over the last few years in our sustainability and ESG activities, particularly in how we prepare for and respond to climate change. We’ve been working with Rightmove Data Services since 2008 using a number of services including their Automated Valuation Model, so investing in their climate change product was a natural progression.
“The severity and significance of climate change rightly demands our attention, and so analysis of our mortgage portfolio is invaluable to help understand and manage the physical and transitional risks it presents.”
Edward Burgess, strategic manager in data services at Rightmove, added: “We’ve put the net zero agenda at the forefront of our data analytics, and so developing a climate solution to satisfy the Bank of England requirements was a natural extension to the services we already offer Skipton and other mortgage lenders.
“We’re in a unique position having access to virtually the entire UK property market, and we know that how green someone’s home is will become increasingly important as the UK strives to hit net zero by 2050, making predictive data vitally important to help businesses plan for the years ahead.”
