Architectural styles may vary subtly across the UK, but one thing does not. Whether they were built in the 1960s or the 1690s, many of the country’s older homes have very poor energy performance.
While the climate emergency is one of Exeter City Council’s major priorities, you don’t have to be an ardent environmentalist to recognise the value of retrofitting.
Installing insulation, solar panels, ground source heat pumps and other measures in homes is good for the environment and for homeowners’ pockets; it keeps residents warmer and healthier, alleviating NHS pressures; and provides work for local tradespeople.
Especially right now, many homeowners will struggle to afford such investments.
However, since 2005, Exeter City Council has been a proud partner of Lendology, a social enterprise that supports 15 councils to arrange affordable loans for the retrofitting of private homes.
Recent clients in Exeter have included a couple in their 30s whose newly purchased 1950s property was in need of modernisation. Thanks to Lendology loans, they were first able to install insulation and later solar panels.
Their home’s energy performance certificate is now set to rise from E to C, and energy use is projected to drop significantly.
It is just one of many successes we’ve achieved with Lendology over the years.
The scheme is important, not just to our climate goals, but our social justice policy platform too, with Lendology’s loans being available to people in a range of financial circumstances.
In 2021/22, borrowers’ average household income was £20,180; 46 per cent were in receipt of benefits; and 29 per cent either did not know their credit rating, or described it as ‘fair’, ‘poor’ or ‘very poor’.
There can be no excuse for councils to ignore the scale of the UK’s retrofitting challenge or dismiss private homes as out of scope.
Affordable lending – and Lendology in particular – is a great option for any council wanting to support its residents to improve their finances and their health, and do their bit for the climate emergency.
To find out more, visit lendology.org.uk
