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Andrew Asaam, Mortgage Director at Lloyds Banking Group tells us what he thinks following Government plans to relax planning rules, making it easier to install heat pumps and solar panels on listed homes
Andrew Asaam, Mortgage Director at Lloyds Banking Group: “The Government plans announced today will enable heat pumps and solar panels to be more easily installed on listed buildings and go some way to ensuring that UK homes meet net zero targets.
“Our own research suggests there are still major barriers to progress – just 28% of homeowners say that they are confident that they would know what they need to do to make their property net zero ready by 2035 and only a small majority (54%) of Brits know their home’s Energy Performance Certificate (EPC) rating. This is despite homeowners having an overwhelmingly positive experience (96%) when they have improved the energy efficiency of their homes.
“As the UK’s biggest mortgage lender, we have helped millions of people become homeowners, and we recognise the crucial role we hold in supporting our customers improve the energy efficiency of their homes. That’s why we recently launched our Making Homes Greener initiative – a journey that sees us trial new tools and partnerships, such as with the Energy Saving Trust, to improve the energy efficiency of Britain’s homes.”
Conducted in October 2023, consumer polling includes 2000 homeowners as part of LBG’s Housing Stocktake report launched in December.
Lack of awareness is a central barrier:
- 35% of homeowners have not considered making upgrades to their property’s energy efficiency, or to bring it towards net zero.
- Just 28% of homeowners say that they are confident that they would know what they need to do to make their property net zero ready by 2035.
- Just 54% of homeowners know their EPC rating.
- Just one in three (30%) of homeowners think that the Government is doing enough to support homeowners.
Consumers who have retrofitted overwhelmingly positive on long-term benefits:
- 96% of people who reported having taken action to retrofit their home to improve energy efficiency reported to be pleased that they had done so.
- 77% of property owners say that their property is warmer as a result of the measures they installed.
- 64% say that the running costs of the property are lower as a result of the measures they have installed.