Tuesday, September 29, 2020
UK

UK property industry going green

UK property

One of the UK’s leading non-bank property lenders launches its first green finance initiative

One of the UK’s leading non-bank property lenders has launched its first green finance initiative to enable its borrowers to have the most positive environmental impact.

The change applies to all LendInvest Bridge-to-Let borrowers when they improve the EPC rating of a property during the term of their loan, with borrowers able to save up to £600. The final amount saved depends on the extent to which they improve the EPC rating.

Industry standards – introduced as part of the MEES legislation in April 2018 – require landlords to achieve a minimum EPC rating of E on all privately rented homes. LendInvest says its green finance initiative reflects its ambitions to promote higher than average EPC ratings on the rental properties it backs.

Rod Lockhart, chief executive officer at LendInvest, said: We’re excited to be among the very first lenders in the sector to be thinking about how we can encourage our borrowers to put the environment first. Every time we originate a loan, we’re helping our borrowers to have a positive impact on the environment and the communities in which they work.

He added: As a responsible business that’s serious about its environmental and social obligations, we are excited to apply our instinct for innovation into green product offers like this.

A retirement village provider has announced its commitment to green energy, with the entire Audley Group portfolio of villages – including the 19 Audley Villages and Mayfield Watford – set to be powered by green energy by November 2021.

Audley Cooper’s Hill in Surrey, opened in late 2019, is Audley’s very first green energy village and all newly completed villages will operate on green energy. Villages already in operation are set to transfer over to green energy sources in the next two years.

The commitment spans all communal areas at the villages, including the restaurant, Audley Club and Mayfield Club, as well as the spa and gym. The vast majority of property owners buy their gas and electricity through Audley’s provider, too, which means more than 90% of owner properties will be powered by green energy by the winter of 2021.

Currently, energy and electricity use from UK properties makes up 20% of Britain’s greenhouse emissions and these need to reduce by at least a quarter by 2030 to meet the Committee on Climate Change’s targets.

As well as reducing its carbon output, Audley is also working on several initiatives to move towards zero carbon status, including evaluating sustainable building practices and the integration of low to zero carbon technologies in both existing and new villages.

Kevin Shaw, managing director at Audley Group, said, we are the very first retirement village provider to implement green energy across our full portfolio of villages and we are part of just a handful of housebuilders putting zero carbon initiatives at the heart of our projects. Our latest announcement reaffirms our commitment to reducing emissions from the housing sector and is just another step on the journey to zero carbon status.

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