Octopus Real Estate has teamed up with software program agency Kamma to offer brokers and debtors access to the latter’s retrofit device.
The Retrofit Explorer device provides an correct, clear view of the upfront cost and returns of retrofitting a home. It additionally recommends cost-effective strategies for power upgrades.
This might be built-in into the Octopus Real Estate web site to encourage retrofitting and bolster inexperienced residential lending.
It will work along side Octopus Real Estate’s inexperienced product providing, which contains refurbishment loans to fund as much as £200,000 of works. Where a property’s EPC score has been improved following works, debtors will profit from a 1.8% per yr low cost on the rate of interest.
Octopus Real Estate mentioned that, when it got here to creating properties extra environment friendly, debtors had been confronted with the challenges of not understanding the prices, the return on funding and being unaware of what works to undertake.
The lender mentioned this partnership was a “no brainer” as it might assist to decarbonise housing within the UK.
Joe Webb, chief development officer of Kamma, mentioned: “Retrofitting provides advantages on many ranges, lowering emissions, saving on power payments and even including to asset worth. It additional reduces transition threat, helps transition planning and limits financed emissions for lenders.
“In this context, the lack of actual activity in the market has been surprising. We aim, for the first time, to make these benefits clear to consumers and lenders alike, driving up retrofit activity and driving down emissions and energy bills.”
Steve Matthews (pictured), head of residential lending at Octopus Real Estate, mentioned: “We wish to provide real incentives to prospects searching for to borrow to enhance their property investments. We’re delighted to companion with Kamma, who clearly illustrate the advantages from making constructive adjustments.
“Together, we’re aiming to drive genuine change and improve the availability of quality, sustainable homes.”
Last month, Octopus Real Estate revealed it had accomplished over £35m in inexperienced properties lending by the Greener Homes Alliance initiative. The scheme is in partnership with Homes England and provides discounted charges to builders to encourage energy-efficient initiatives.
Shekina is the deputy editor at Mortgage Solutions and industrial editor at Mortgage Solutions and Specialist Lending Solutions. She has practically eight years of expertise within the B2B publishing market, having beforehand coated the hospitality, retail, pet, accounting and jewelry sectors.
Shekina has labored for Mortgage Solutions and Specialist Lending Solutions for almost 5 years. Here, she covers the market’s breaking information tales, engages with professionals within the sector, and oversees any commercially agreed content material in partnership with mortgage-related firms.
This contains presenting webinars and internet hosting roundtable discussions on creating themes within 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 learn, journey, take heed to music and socialise with pals.
She presently experiences on present occasions within the mortgage market and liaises with monetary shoppers to provide sponsored content material.
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