Lloyds Banking Group has paid £2.5 million to mortgage customers through intermediaries under its Green Living Reward scheme.

Payments across all distribution channels have reached £6 million, with the scheme offering cashback to customers who complete eligible energy-efficiency improvements to their homes.

Lloyds said the incentive was intended to help households reduce energy costs and emissions as pressure on bills continued.

INTERMEDIARY CONTRIBUTION

Mortgage intermediaries have helped clients understand the support available and how to obtain funding for improvement work.

Andy Dean, head of housing and sustainability at Lloyds Banking Group, said: “Reaching £2.5 million paid through our intermediary partners reflects growing demand from customers looking to bring down bills and make their homes more efficient. Brokers are helping people understand what’s available and how to access that.

“We’re backing that through the Green Living Reward, improved affordability and investment in adviser education. We’ve already expanded our Green Finance Institute scholarship programme due to strong demand.”

L&C Mortgages is the leading broker firm under the initiative, having passed £150,000 in Green Living Reward cashback to its customers.

David Hollingworth, associate director at L&C Mortgages, said: “We’re delighted to have played a part in helping so many people take advantage of the valuable incentive that the Green Living Reward cashback offers.

“Reaching £2.5 million in cashback through the intermediary channel alone reflects the strength of demand and the role brokers play in helping customers manage the cost of improving property energy performance.

“With energy costs on the rise once again, more homeowners are likely to consider how best to retrofit and improve their property’s efficiency.”

ADVISER EDUCATION

Lloyds announced a partnership with the Green Finance Institute earlier this year to fund a scholarship programme in green home finance education for mortgage intermediaries.

The programme is being expanded from 300 to 500 places following demand from brokers. It is intended to improve advisers’ understanding of sustainable housing and home retrofit options.

GREENER HOUSING

The Green Living Reward forms part of Lloyds Banking Group’s wider offering for customers buying or remortgaging more energy-efficient homes.

The group offers £250 cashback on purchases of homes with an energy performance certificate rating of A or B. It also provides enhanced affordability assessments for properties with those ratings.