The Green Finance Institute (GFI) has partnered with the Green Mortgage Advice Initiative (GMAI) to launch the Green Home Finance Roadmap (GHFR) for the mortgage business.
The launch has seen 34 organisations and business our bodies from the finance, power and constructed setting sectors pledge their assist for the actions within the roadmap.
These embrace the National Retrofit Hub, the UK Green Building Council, the Building Societies Association, the Intermediary Mortgage Lenders Association, the Association of Mortgage Intermediaries, and the Equity Release Council.
The GHFR is constructed on insights from business voices, from mortgage lenders and brokers to retrofit consultants and coverage specialists.
It outlines 5 key themes for progress on a one-page motion plan for business to take ahead.
A key software of the GHFR will likely be to maximise the impression of business occasions and roundtables.
The UK’s Climate Change Committee estimates reaching internet zero in residential property alone by 2050 would require an estimated £311.5bn capital funding, most of which is anticipated to come from the non-public sector.
Research from the GFI discovered that half of all householders and eight in 10 first-time patrons in Scotland would use a inexperienced mortgage to assist them purchase or improve to a greener residence.
However to meet this demand, it states that there wants to be public engagement and entry to monetary merchandise.
GFI suggests there may be additionally a rising consciousness within the business that constructing resilience should go hand in hand with decarbonisation.
GFI inexperienced mortgage marketing campaign lead Chloe Timperley says: “We’re proud to launch the Green Home Finance Roadmap as an important software for channeling extra of the £242 billion a yr mortgage market in the direction of future-proofing the nation’s houses.”
“Developed by means of business session, the Roadmap offers us a way to monitor progress, have a good time collective wins, and establish new priorities and areas of unmet want over time. It units out a shared imaginative and prescient to assist us transfer ahead as an business – and crucially, helps us keep away from circling the identical conversations or working in silos.”
Meanwhile, Association of Mortgage Intermediaries chief govt Stephanie Charman provides: “The Roadmap units out what wants to occur if we wish to make inexperienced finance a part of on a regular basis recommendation. AMI is delighted to see so many dealer companies supporting this doc, and we’ll proceed to guarantee the recommendation sector stays on the forefront of this necessary situation.”
GMAI chair and Alexander Hall managing director Richard Merrett states: “The Roadmap is a well timed and much-needed useful resource for each lenders and intermediaries. It brings readability, path and momentum to a posh and fast-moving house.”
“From the beginning now we have championed a ’nation not membership’” strategy to the inexperienced agenda, and this doc embodies that ethos of collective motion. We’re proud to assist this initiative and can proceed to champion the position of the mortgage business in tackling the local weather disaster.”
Earlier this yr, the Green Finance Institute expanded its inexperienced mortgage coaching programme to Scotland.
