Green Finance Institute collaborates with GMAI to launch a mortgage roadmap – Mortgage Strategy
The Green Finance Institute (GFI) has partnered with the Green Mortgage Consulting Program (GMAI) to launch a Green Family Finance Roadmap (GHFR) for the mortgage industry.
The launch has seen 34 organizations and industry organizations that guarantee their support for actions in the roadmap from the finance, energy and built environment sectors.
These include the National Renovation Hub, the British Green Building Council, the Association of Building Associations, the Association of Agency Mortgage Lenders, the Association of Mortgage Agency and the Stock Release Committee.
GHFR builds on industry voice insights, from mortgage lenders and brokers to remodeling experts and policy experts.
It outlines five key themes for the advancement of a one-page action plan for industry development.
A key application of GHFR is to maximize the impact of industry events and roundtables.
The UK’s Climate Change Commission estimates that by 2050, the net worth of residential properties alone will be zero, with an estimated capital investment of around £311.5 billion, most of which is expected to come from the private sector.
GFI’s research found that half of all homeowners in Scotland and eight of ten first-time home buyers will use green mortgages to help them buy or upgrade to greener homes.
However, to meet this need, it points to the need for public participation and access to financial products.
GFI shows that awareness in the industry has also increased, that building elasticity must be closely related to decarbonization.
Chloe Timperley, head of GFI Green Mortgage Events, said: “We are proud to launch the Green Home Finance Roadmap as an important tool to drive more of the £242 billion mortgage market annually to make the future of homes in the country.”
“The roadmap is developed through industry consulting, providing us with a way to track progress, celebrate collective victory, and identify new priorities and unmet areas that have not been met over time. It presents a shared vision that can help us move forward as an industry – and in critical situations, helping us avoid hovering the same conversation or working on silos.”
Meanwhile, Stephanie Charman, CEO of the Association of Mortgage Agency, added: “The roadmap illustrates what needs to happen if we want to make green finance part of our day-to-day advice. AMI is pleased to see so many brokerage firms backing the document and we will continue to make sure that the consulting sector remains at the forefront of this important issue.”
“The roadmap is a timely and much-needed resource for lenders and middlemen. It brings clarity, direction and momentum to a complex and fast-growing space,” said Richard Merrett, chairman of GMAI and managing director of Alexander Hall.
“From the beginning, we advocated the green agenda of ‘country rather than clubs’”, a document embodies the spirit of collective action. We are proud to support this initiative and will continue to advocate for the role of the mortgage industry in addressing the climate crisis. ”
Earlier this year, the Green Finance Institute expanded its green mortgage training program to Scotland.
