The leading later life lender, more2life, has partnered with Vibrant, the UK’s largest property services company, to provide new Flexi Choice customers with a free Energy Performance Certificate (EPC).
Initially, the partnership will offer a free EPC to new customers choosing to take out a new Flexi Choice loan and more2life will track the success of this initiative with advisers and customers to help guide a wider roll-out across other products in the future.
Vibrant and more2life came together in response to the rising cost-of-living and the current spiking of energy bills, which are pinching the finances of over 55s across the UK.
Les Pick, director of manufacturing and adviser propositions at more2life, said: “At a time when many are counting the pennies before switching on the central heating, knowing your property’s energy efficiency has never been more important.
“We are proud to work with Vibrant, the leading supplier of EPCs to the residential sector and to offer our customers a free EPC when they take out equity release with us.
“The EPC will include a range of options that our customers may wish to consider to make their home more energy efficient and reduce their monthly energy bills and environmental impact.
“Many of our customers take out equity release because they love their home and don’t want to downsize, so we wanted to find a way to provide free access to important information about their property.”
The partnership aims to help later-life lending customers develop a better understanding of the current energy efficiency of their property.
If customers do not want an EPC, they will not be obliged to take one as part of their lifetime mortgage application.
Daniel Kittow, managing director at Vibrant, added: “Typically, you think about taking out an EPC when you buy or sell a property.
“However, it provides valuable information that can benefit all homeowners – especially as the cost of living continues to bite and people need to consider how they can better manage their utility bills.
“Furthermore, the UK is working towards a ‘Net Zero Carbon’ emission target from residential property by 2033 – the EPC forms the assessment basis for this national target.
“We are delighted to be working with more2life to reach older borrowers who intend to remain in their homes for many years to come and therefore would ordinarily not been in a position to benefit from the insight provided by an EPC.”
