LENDERS Project Report Launch
Funded by Innovate UK, the LENDERS project set out to improve the accuracy of predictions used to estimate household energy costs when calculating mortgage affordability. On Tuesday 18 July, the final project report will be launched at Westminster Central Hall. The project partners will present the findings, and discuss the potential impacts and opportunities for implementing the new approach.
The project is seeking to create a stronger link between energy costs, affordability and mortgage borrowing and has been undertaken by a consortium of eight partners – Arup, BRE, Constructing Excellence Wales, the Energy Saving Trust, Nationwide Building Society, Principality Building Society, UCL Energy Institute and the UK Green Building Council.
Over the past 18 months, the project partners have been developing a more accurate methodology for estimating energy bills which can be readily incorporated into the mortgage sales process. If this approach is adopted, it could have a transformative impact on the housing and energy efficiency markets by making energy performance a fundamental part of mortgage lending. Over time, it could lead to a much closer relationship between properties' energy efficiency and their value.
Please note UK-GBC will also be hosting the launch of our Regeneration and Retrofit Task Group report at the same venue immediately following the LENDERS event. Click here to register for one or both events.