It uses government data to collate a property’s current EPC rating and any measures which can help improve this, combined with information from Habito on how much this could cost.
To calculate the potential energy cost saving, Aklimate assesses the average energy consumption for the home’s EPC against average energy costs. To determine how carbon emissions can be reduced, it looks at the typical waste produced by homes of a certain EPC rating per square metre, and to work out how much value a retrofit can add to a property it uses data from Rightmove.
Users need to enter their postcode and energy efficiency target to work out how their home can be made greener.
Aklimate is engaging with the Building Societies Association for endorsement and is in conversation with firms that are part of the Mortgage Climate Action Group to get mortgage brokers to use the calculator on behalf of their clients or encourage them to use it on their own.
Mark Fischel, co-founder of Aklimate, said: “The calculator is valuable for both homeowners and for brokers, who can use the tool to assess their clients’ suitability for energy efficiency upgrades.
“It will also help brokers understand which retrofit mortgages they could suggest to their clients to help finance their desired home improvements.
“As homeowners struggle with energy bills and consider how to improve their properties, our calculator equips brokers with the knowledge and power to help them do so.”
The tool also recommends mortgage lenders which can help homeowners to improve the energy efficiency of their homes.
Fischel added: “Against the backdrop of spiralling energy costs and mortgage interest rates, we are launching our free retrofit calculator to make energy efficiency improvements more accessible for UK homeowners.
“Retrofitting really is a win-win for everyone involved — reducing household costs, decreasing the risk of default for lenders, and boosting property valuations. With 28 million homes in need of retrofitting by 2050 to hit the UK’s climate target, as a nation, we are just getting started.”
