Bluestone Mortgages has entered into a three-year contract with automation and valuation provider Hometrack to discover climate change risks within its mortgage portfolio.
Hometrack will regularly review the lender’s back book using data on flood, ground and energy risk. It will also forecast how this risk could evolve over time.
The information will allow Bluestone to understand the impact of climate change on property valuations to determine its risk appetite and its capital calculations.
Steve Seal, CEO, Bluestone Mortgages, said: “Within the context of a changing world, thanks to the climate change risk analysis and information provided by Hometrack, we will be able to better understand risk and opportunity in the current market.”
George Robbins, VP commercial at Hometrack, added: “One of the biggest challenges facing lenders is changing regulation around climate change; and this is as pertinent to specialist lenders as it is to the main market.
“Our solutions and insight will help support Bluestone to gain control of risk exposure. This will put Bluestone in the driving seat to devise the appropriate strategies to continue lending whilst understanding and mitigating risks.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS