COVER
EPC
Mortgage distributors bid to up the ante on climate change Newly formed advisory group urges closer co-operation
T
he mortgage sector must come together to tackle climate change and add its voice to environmental policies affecting the housing industry, according to one of the prime movers behind a newly formed group. Three of the UK’s biggest mortgage distributors – Legal & General, Sesame Bankhall Group and SimplyBiz Mortgages – last month announced a new collaborative venture called the Mortgage Climate Action Group. The group’s aim is to interpret new climate change legislation and “provide guidance and practical help” for industry advisers to ensure “they are well equipped to support UK consumers”. Kevin Roberts, the director of Legal & General Mortgage Club, said in a statement that the mortgage market had a role to play in tackling global warming but the industry also needed to understand the impact “that any changes, from legislation to lending, could have on the sector”. He said: “We believe that collaboration will be key
38
MORTGAGE INTRODUCER JUNE 2022
to addressing this hugely important issue. We have already been working closely with lenders and will soon be able to deliver educational content, available as structured CPD pieces, centred on supporting the advice journey. “But our aims extend beyond sharing practical guidance alone, and we are committed to ensuring advisers’ interests are represented among various government and trade bodies, while helping intermediary businesses develop their own sustain ability guidelines.” The three mortgage distributors, which reportedly accounted for more than £169bn worth of gross lending in 2021, are urging others across the industry to support the initiative. So far, they have already reportedly begun working with lenders and the Association of Mortgage Intermediaries (AMI). According to the latest figures from the Department for Business, Energy and Industrial Strategy, the residential sector accounts for almost 21 per cent of the www.mortgageintroducer.com
