The Broker Handbook on Green Home Retrofit and Technologies, designed to support brokers in their conversations with clients on improving home energy efficiency, has been launched today.
This handbook is a joint venture led by the Green Finance Institute (GFI) in collaboration with the Association of Mortgage Intermediaries (AMI), Building Societies Association (BSA), Energy Saving Trust, Equity Release Council, the Intermediary Mortgage Lenders Association (IMLA),UK Finance, and L&G Mortgage Club in association with cross-industry partnership Mortgage Climate Action Group (MCAG).
Rising energy bills and the impacts of climate change are fast becoming priority concerns for homeowners, and clients are increasingly likely to ask energy efficiency-related questions during the mortgage advice process. However, it is an unfamiliar topic for most brokers, compounded by a lack of clarity from government on what the future of the net zero agenda holds for the mortgage sector.
The new broker handbook has been developed to bridge this knowledge and confidence gap. It aims to give advisers the tools and information to have better conversations with clients about the options available and factors to consider, even if they don’t have all the answers.
The handbook is officially accredited as structured CPD by The London Institute of Banking and Finance, and AMI is in ongoing talks with the education provider on how to further enhance broker education on this complex topic. AMI also launched a new website last year – greenmortgageadvice.uk – to provide an information hub for brokers on green home finance and host webinars run by members of the Mortgage Climate Action Group. This will be developed further as the product and policy environment evolves.
AMI, GFI and L&G Mortgage Club are hosting a webinar on 1 March 2023 at 2pm to discuss the handbook, how it will benefit brokers, and the wider implications of the green agenda for the mortgage market. The webinar is free and open to everyone, and you can register to attend here.
Robert Sinclair (pictured), AMI chief executive, said: “This isn’t about advisers becoming retrofitting experts or energy consultants – we don’t expect mortgage intermediaries to start advising on heat pumps and solar panels. But we do need them to be aware of the solutions, because it’s not going away and our customers will need help.
“As temperatures and sea levels rise, more consumers are going to want reliable, high-quality information on reducing their carbon footprint. Mortgage intermediaries have a unique opportunity to be at the heart of the conversation, and alert consumers to the various aspects of home energy efficiency they may need to consider.
“We have been here before in the Buy to Let world where we talked about using Limited Company solutions without becoming tax advisers. We adapted then, it’s time to adapt now. It may not seem like a priority today, but this will grow quickly. Mortgage advisers can’t afford to be left behind.”
