Hinckley & Rugby Building Society has partnered with Digital Buildings to launch a retrofit scheme called Retrogreen, along with three new mortgage products.
The proposition is 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 Energy Performance Certificate (EPC) rating.
The Retrogreen service also provides homeowners with quotes for the required work from pre-vetted contractors.
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.
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New Retrogreen mortgage products
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.
The Retrogreen 4.69% fixed rate is available up to 80% loan to value (LTV) with a 4.69% fixed rate until the end of January.
It is followed by a 7.79% variable rate with a £999 completion fee.
The Retrogreen 5.35% two-year fixed rate is also followed by the same 7.79% variable rate and a £999 completion fee.
The Retrogreen two-year discount variable product has a 2.7% discount off the society’s Homeowner Variable Rate, with rates starting at 5.09% variable up to 80% LTV with a £999 completion fee.
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.”
The Retrogreen service from Digital Buildings helps homeowners to understand the value in making their home more energy efficient and how to go about it.
Its home planning tool RetroPlanner allows homeowners to develop one or more fully costed energy-efficiency plans.
Its team of qualified experts are on hand to provide advice and help a homeowner reach a decision on their optimal plan.
During a RetroAssure service, Retrogreen sends a qualified professional to assess the property.
All aspects are considered from the building fabric, through to ventilation and comfort.
After the visit, they will talk through a detailed home improvement report on how to best proceed.
Retrogreen provides any required legal agreements and checks that all the works are building regulations-compliant and everything has gone to plan.
Improving energy efficiency
Colin Calder, co-founder of Digital Buildings, said: “We are delighted to be working with Hinckley & Rugby BS 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.”
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.”
