Standard Life Home Finance has announced a scheme to encourage homeowners to make their properties more sustainable with free assessments and up to £1,000 cashback.
The later life mortgage lender has teamed up with home improvement firm Vibrant Energy Matters to allow customers to book a free energy performance certificate (EPC) assessment on completion of a Horizon or Horizon Interest Reward lifetime mortgage.
If a customer’s home receives an EPC A rating, Standard Life Home Finance will give them £1,000 cashback. Homeowners whose property is rated a B will receive £500.
If a homeowner already has a valid EPC certificate from the last five years on a property aged 10 years or older, or at any time on a property aged less than 10 years, they will still be eligible for the A or B rating cashback.
The incentive will be available on Standard Life Home Finance’s Horizon and Horizon Interest Reward plans, through any whole of market adviser registered with the lender.
Where the lifetime mortgage funds are being used to buy a new home, borrowers will be eligible for cashback from an existing EPC certificate but not a free evaluation.
Sanjay Gadhia, head of sales at Standard Life Home Finance, said: “In recent years we’ve seen green mortgages, sustainable housing and EPC considerations rise rapidly up the agenda for homeowners, so we’re excited to be offering free EPCs to our customers. People have experienced serious shocks to their bills in recent years, from the gas price shock in 2022 to the energy price cap expected to fall by 7%, so having a good EPC rating is not only important for the climate but for our customers’ wallets too.
“Providing a lump sum in cashback to the most sustainable and energy-efficient properties will provide a financial incentive for customers with lower EPC ratings to invest in their property. Not to mention that the funds released with a lifetime mortgage can allow homeowners to make refurbishments resulting in a greener home with lower energy bills. Customers considering this as an option should always consult an adviser for support.”
Last month, the lender broadened the distribution of its Horizon Interest Reward range by launching it to the Iress platform.
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
