Thirty-four organisations and industry bodies from the finance, energy and built environment sectors have pledged their support for the Green Finance Institute’s (GFI) Green Home Finance Roadmap (GHFR) for the Mortgage Industry.

The roadmap, which has been produced in partnership with Green Mortgage Advice Initiative (GMAI), has been designed to embed sustainability across the UK mortgage market in collaboration with non-financial stakeholders.

The GHFR is built on insights from industry voices, from mortgage lenders and brokers, to retrofit experts and policy specialists, and outlines five key themes for progress.

These include cross-sector collaboration, commercial viability, public awareness and driving demand, policy clarity for market confidence and industry education and training.

The GFI said that decarbonising UK homes is one of the "biggest financial challenges of the net-zero transition".

The UK’s Climate Change Committee has estimated that reaching net-zero in residential property alone by 2050 will require an estimated £311.5bn capital investment - most of which is expected to come from the private sector. It added that the UK’s mortgage market, which is worth £242bn a year, with nearly £1.7trn in outstanding lending, has a crucial role in deploying this investment.

Organisations and industry bodies that have pledged their support for the actions of the roadmap include the National Retrofit Hub, the UK Green Building Council, the Building Societies Association, the Intermediary Mortgage Lenders Association, the Association of Mortgage Intermediaries, and the Equity Release Council.

Green mortgage campaign lead at the GFI, Chloe Timperley, said: "We’re proud to launch the GHFR as an essential tool for channelling more of the £242bn a year mortgage market towards future-proofing the nation’s homes.

"Developed through industry consultation, the roadmap gives us a means to track progress, celebrate collective wins, and identify new priorities and areas of unmet need over time. It sets out a shared vision to help us move forward as an industry – and crucially, helps us avoid circling the same conversations or working in silos."

Managing director of Alexander Hall, and chair of the GMAI, Richard Merrett, added: "The roadmap is a timely and much-needed resource for both lenders and intermediaries. It brings clarity, direction and momentum to a complex and fast-moving space. From the start we have championed a ’country not club’ approach to the green agenda, and this document embodies that ethos of collective action.

"We’re proud to support this initiative and will continue to champion the role of the mortgage industry in tackling the climate crisis."

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