It finds that 77% of intermediaries support higher green grants, and 70% of these property professionals pointed to tax incentives, such as a stamp duty discount on energy-efficient homes that may act as a driver of activity, the bank says in its Buying into the Green Homes Revolution report.
The survey points out that 53% of homeowners say they cannot afford the cash needed to improve their homes to the government’s target of getting the country’s housing stock up to an energy performance certificate rating of C or above by 2035.
“This has led to inaction,” the study says and makes the government’s “aspirational target . . . more challenging.”
It adds that only 42% of homeowners know what an energy performance certificate is, compared to 99% of brokers, with 61% of intermediaries adding they are “clued up on current green products and future regulatory changes” in the area.
However, only 6% of brokers say clients regularly ask about energy efficiency, and 58% admit that the subject has never been mentioned to them by their customers.
The report says 58% of brokers agree that a public education campaign into the benefits of energy-efficient homes “would encourage more action among homeowners”.
Santander head of business development – mortgages Graham Sellar says: “With 21% of the UK’s CO2 emissions coming from housing, the government and the housing industry need to work together on the crucial challenge of retrofitting our homes, if the UK is to achieve its net zero gas emissions target by 2050.
“Brokers will play an important role in the industry’s ability to rise to this challenge: from educating homeowners on the benefits of improved energy efficiency, to supporting them with funding their home’s retrofitting journey.
“As the costs of living pressures continue to hit many homeowners, a high energy efficient property can bring savings of up to 52% on energy costs a year, so ensuring those looking to buy or remortgage understand energy performance certificate ratings and how they can improve their energy efficiency can potentially provide real cost savings to homeowners.”
The bank says its report includes consumer research among 1,000 homeowners looking to purchase in the next five years and 1,000 adults looking to buy in the next five years, alongside a survey of 175 estate agents carried out by data group Opinium Research in the summer.