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Bluestone to track climate change risk with Hometrack partnership

  • 06/06/2022
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Bluestone to track climate change risk with Hometrack partnership
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.” 

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