We all know that affordability is really important to first-time buyers. So, it might feel like time wasted discussing sustainable housing to trying to save a deposit for their first place to call home. However, affordability and sustainability aren’t mutually exclusive. First-time buyers can boost their buying power and purchase a home that’s cheaper to run and better for the planet. That’s because most of the UK’s affordable home ownership schemes, like First Homes and shared ownership, are offered on newly built homes, which are more energy efficient (average EPC B rating) than older homes. Plus, an increasing number of lenders are offering enhanced mortgage deals for more efficient properties. Younger borrowers are arguably more invested in tackling climate change – after all, they’ll be living with the consequences of it for longer. But, even if your first-time buyer client isn’t able to fully commit now, they may be open to making energy-efficient home improvements in the future. That’s a conversation which could help build a longer-term relationship and lead to a potential future business for you when the time is right. So, it always makes sense to discuss green issues with first-time buyers from the off. The sustainability shift The new-build sector is at the forefront of sustainable housing technology and on track to achieve the Future Homes and Buildings Standard from around 2025. These homes will produce 75% less carbon emissions than under the old regulations and be ‘zero carbon ready’, meaning they won’t need further retrofitting as the electricity grid decarbonises through sustainable power generation. Some builders are ahead of the regulatory curve and delivering the expected Future Homes and Buildings Standard early. For example, we’re working with Keepmoat on a development in Nottingham, where Future Homes and Buildings Standard new builds are already being bought by homeowners. This provides us with insight into how sustainable new homes work, are valued and what they cost to run, as well as the ‘lived experience’ of families on a day-to-day basis. Many other builders are also testing cuttingedge sustainable technology and working on joint initiatives is invaluable to us. We’re always keen to talk to private developers, funders and local authorities on potential affordable, sustainable home ownership projects. Working together We all have a part to play in creating a sustainable housing market and Halifax is working hard to support the shift. We’re the largest funder in the new-build sector, helping developers build energyefficient homes as well as providing first-time buyers with funding to purchase them. Talk about energy efficiency with first-time buyers to plant the sustainability seed 06 AUTUMN MORTGAGE NEWSLETTER Amanda Bryden Head of Halifax Intermediaries
RkJQdWJsaXNoZXIy MjI4MjU4NQ==