Thursday, July 7, 2022
UK

Leeds Federated, Hometrack partner on climate change impact

UK mortgage market

The data is also being combined with an up-to-date AVM valuation of each property to help Leeds Federated assess the cost of risk against the open market value of individual properties

Leeds Federated Housing Association has partnered with Hometrack, a provider of insight and intelligence to the UK mortgage market, to better understand the impact of climate change on its housing stock.

As well as assessing the risk of climate change in the near term, Hometrack’s Risk Insights are helping the housing association to understand where risks such as flooding and subsidence are geographically concentrated, right down to individual streets or properties.

The data is also being combined with an up-to-date AVM valuation of each property to help Leeds Federated assess the cost of risk against the open market value of individual properties.

Furthermore, the climate change insights are providing valuable data to support more effective targeting of the housing association’s property maintenance and asset management activity.

The insights provide important assurances to partners that Leeds Federated understands its climate related risk profile, and show potential finance partners that the housing association’s properties have a clean bill of health and are usable as financing securities.

The partnership with Hometrack forms part of Leeds Federated’s broader efforts to ensure it remains on top of climate change risk and the exposure of its portfolio.

Stephen Blundell, operations director at Leeds Federated Housing Association, shared that working with Hometrack has enabled them to gain powerful insights into the current and future risks that climate change poses to the business.

It helps us maximise sustainability as we develop new homes and provides welcome assurance to our partners that we are mindful of the potential impact of climate change and managing our business with this in mind, he said.

Commenting on the partnership, Ross Allan, head of property data solutions at Hometrack, noted that climate change is evolving quickly and driving challenges for housing associations in unprecedented ways across investment, maintenance, and active asset management.

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