"There is a clear appetite among homeowners to improve the energy efficiency of their property, but that can only happen with the right support from mortgage lenders. "
- Laura Sneddon, head of sales and distribution at Hinckley & Rugby
Hinckley & Rugby Building Society has partnered with Digital Buildings to launch a new retrofit proposition, Retrogreen, designed to support homeowners to improve the energy efficiency of their homes.
Through the partnership, homeowners will be able to receive personalised information based on their property, outlining the specific measures and costs needed in order to improve its EPC rating. The Retrogreen service also allows the homeowner to get quotes for the required work from pre-vetted contractors, while there is a post-work evaluation to ensure that the contract has been carried out to the required standards.
The retrofit proposition will initially be available exclusively to brokers who are members of the Legal & General Mortgage Club.
As part of the launch, Hinckley & Rugby Building Society has introduced three new mortgage products under the Retrogreen range, designed to support homeowners in improving energy efficiency.
Available up to 80% LTV, a five-year fixed rate starts at 4.69%, a two-year fixed rate at 5.35%, and a two-year discount variable offering a 2.70% discount off the Society’s variable rate, with rates starting at 5.09%. All products come with a £999 completion fee.
Laura Sneddon, head of sales and distribution at Hinckley & Rugby Building Society, said: "Retrofitting the UK’s housing stock is a huge task, but it’s one that cannot be delayed. We know that there is a clear appetite among homeowners to improve the energy efficiency of their property, but that can only happen with the right support from mortgage lenders. Hinckley & Rugby Building Society is proud to be leading the way through this partnership.”
Colin Calder, co-founder of Digital Buildings Limited, added: “We are delighted to be working with Hinckley & Rugby Building Society on this retrofit proposition. Homeowners need to understand not only what measures could improve their property’s efficiency status, but also how they can pay for it, and this partnership will help them do just that.”
Jane Simpson, strategic relationship manager at Legal & General Mortgage Club, commented: “Mortgage brokers play a crucial role for homeowners, not just in helping them secure the initial funding for a purchase but also any additional borrowing, including for renovations to improve the energy efficiency of their homes. Retrofitting is only going to become more important in the years ahead, so it’s terrific to see Hinckley & Rugby coming to market with this innovative proposition. I have no doubt that broker members of Legal & General Mortgage Club will be keen to see how it can help them support their clients’ individual needs.”
