Hinckley & Rugby Building Society has launched a retrofit proposition, Retrogreen, in partnership with Digital Buildings Limited.
The Retrogreen service aims to assist homeowners in improving the energy efficiency of their properties.
According to Hinkley & Rugby, retrofitting is essential for improving the energy performance of homes across the UK, as millions need upgrades to achieve a C rating on their Energy Performance Certificate (EPC).
Through Retrogreen, homeowners will receive personalised information on specific efficiency measures and costs needed to enhance their EPC rating.
They can also obtain quotes from pre-vetted contractors, with post-work evaluations to ensure standards are met.
The Retrogreen service is initially available to brokers within the Legal & General Mortgage Club.
Three mortgage products have been introduced under Retrogreen to help homeowners improve energy efficiency.
The Retrogreen 4.69% Fixed Rate offers a fixed rate until 31st January 2030 at 4.69% up to 80% LTV, followed by a variable rate of 7.79% with a £999 completion fee.
The Retrogreen 5.35% 2-year Fixed provides a fixed rate of 5.35% for two years, also followed by a 7.79% variable rate and a £999 completion fee.
The Retrogreen 2-year Discount Variable gives a 2.70% discount off the Society’s Homeowner Variable Rate, starting at 5.09% variable up to 80% LTV with a £999 completion fee.
Its planning tool, RetroPlanner, allows homeowners to develop fully costed plans; a qualified team provides advice to help homeowners choose the best option.
The RetroAssure service involves a professional assessing the property, considering all aspects from building fabric to ventilation. After assessment, a detailed report is provided on how to proceed.
The RetroVerify service manages the practicalities of upgrading homes.
Retrogreen provides a list of necessary upgrades and recommends trusted installers who handle legal agreements and ensure compliance with building regulations.
Laura Sneddon (pictured), 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, said: “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, said: “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.”
