Green Finance Institute launches new resource to supercharge green home retrofit solutions

The Green Finance Institute (GFI) has launched the “Broker’s Handbook”, a guide to educate and inform mortgage intermediaries about different green home retrofit solutions and technologies to help accelerate the decarbonisation of the UK’s homes.

The Handbook provides a practical guide for brokers to understand opportunities in the mortgage sector through improving home energy efficiency.

The green mortgage sector has grown rapidly in the past four years, increasing from 3 to over 50 products, however many brokers are new to the opportunities that green mortgages provide. This Handbook, the first of its kind for mortgage brokers, is a reference point that includes all the core information that brokers need to know to support customers on their net-zero journey.

Mortgage intermediaries have wide-ranging, long-standing and trusted relationships with homebuyers, therefore have an important role to play in the decarbonisation of UK homes. This resource will help them identify the opportunities and risks, quality assurance standards, and benefits across the housing value chain, as well as the policy landscape for home energy efficiency.

With UK buildings being responsible for 23% of total greenhouse gas emissions, the opportunity for successful decarbonisation is dependent on the built environment sector having confidence in green solutions and the relevant financial arrangements in place to fund these.

The recently announced Chris Skidmore Net Zero Review included targets for all homes sold in the UK to be a minimum of EPC C by 2033 which, if implemented, would introduce a new timeline for improving the energy efficiency of the UK’s inefficient housing stock. Finance is essential in making this change and the Climate Change Committee, the government’s independent advisory body on climate change, estimates a total investment need of £360bn by 2050.

Emma Harvey-Smith, Built Environment Director, GFI said: “Rising prices are causing widespread concerns for both domestic and commercial energy consumers. Mortgage Brokers are a key part of the puzzle when it comes to facilitating better insulated homes that cost less to heat, and support a net zero future. We’re delighted to be launching this handbook, developed with experts across the market, to provide the clarity needed for Brokers to now be armed with enough information to fully support customers and clients on this journey.”

There is consumer interest for more financial products being offered on green solutions, driven in part by soaring energy bills across the UK. The Rightmove Green Homes Report found that improving a home from an F to a C EPC rating could add an additional 16% to its value. Meanwhile, the same report found that 89% of homeowners are looking to make green improvements in order to save money on energy bills. 

Find out more here.