Hinckley & Rugby Building Society Launch Retrogreen Initiative
Hinckley & Rugby Building Society has partnered with Digital Buildings Limited to launch a new retrofit proposition, Retrogreen, designed to support homeowners to improve the energy efficiency of their homes.
Retrofitting is a crucial part of improving the efficiency standards of properties across the UK, with improvements work required on millions of homes in order for them to reach a C rating on their Energy Performance Certificate.
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 EPC rating. The Retrogreen service also allows the homeowner to get quotes for the required work from pre-vetted contractors, while 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.
Retrogreen mortgage products will support energy efficiency improvements
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% LTV with a 4.69% fixed rate until 31/01/2030, followed by a 7.79% variable rate with a £999 completion fee.
The Retrogreen 5.35% 2-Year Fixed provides a 5.35% fixed rate for two years, followed by the same 7.79% variable rate and a £999 completion fee.
Finally, the Retrogreen 2-Year Discount Variable offers a 2.70% discount off the Society’s Homeowner Variable Rate, with rates starting at 5.09% variable up to 80% LTV with a £999 completion fee.
The Retrogreen service from Digital Buildings handholds a homeowner so they can best understand the value in making their home more energy efficient and how to go about it. Their home planning tool RetroPlanner allows a homeowner to develop one or more fully costed energy efficiency plans. Their 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 send a qualified professional to assess the property. All aspects are considered from the building fabric, through to ventilation and comfort. Ensuring the best outcome for the homeowner and the property is paramount to them. After the visit they will talk through a detailed home improvement report on how to best proceed.
Finally, RetroVerify service does all the heavy lifting when it comes to upgrading a home. Retrogreen provides the list of upgrade requirements as well as recommending trusted installers who are able to carry out all the work. They provide any required legal agreements and check that all the works are building regulations compliant and everything has gone to plan.
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.”
Colin Calder, Co-Founder of Digital Buildings Limited, added: “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, also commented: “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.”
