Octopus Real Estate and Homes England launch 拢175m Greener Homes Alliance
The Alliance will provide loan finance and expert support to SME housebuilders, enabling them to build more high quality, energy efficient homes across England
Octopus Real Estate, part of Octopus Group and a leading United Kingdom specialist real estate lender and investor, has partnered with Homes England, the 바카라 사이트바카라 사이트檚 housing delivery agency, to create the Greener Homes Alliance.
The new Alliance will commit 拢175 million, providing both loan finance and expert support to SME housebuilders, enabling them to build more high quality, energy efficient homes throughout England.
As part of its broader efforts to expand the supply of finance available to SMEs, Homes England will provide 拢46 million of the 拢175 million.
The Alliance will provide loans of between 拢1 million and 拢20 million to finance new SME development projects. Homes funded must achieve a minimum Energy Performance Certificate (EPC) rating of B, and will benefit from increasing interest rate margin discounts as the energy efficiency of the homes increases above this (as measured using the Standard Assessment Procedure (SAP)). Homes achieving an EPC rating of A will benefit from interest rate margin discounts of 2%.
Before starting their developments, SMEs will also benefit from free of charge, expert advice from sustainability consultants McBains and Octopus Energy 바카라 사이트� the United Kingdom바카라 사이트檚 leading 100% renewable energy supplier and part of the Octopus Group.
McBains will provide design guidance and practical steps to achieve an improved EPC.
Octopus Real Estate offers flexibility and efficiency in its funding to developers, and this will remain a key element of the Greener Homes Alliance. Loans will be up to a maximum of 85% LTC or 70% LTGDV, to maximum loan sizes of 拢20 million.
The Alliance will support the construction of up to 750 new homes whilst also equipping SME housebuilders with knowledge and expertise around low carbon construction, allowing them to build to higher environmental standards, now and in the future.
Housing Minister RT Hon Christopher Pincher MP said: 바카라 사이트淲e are determined to ensure that our homes are fit for the future and improving energy efficiency is a key part of our ambitions to reach net zero emissions by 2050.
바카라 사이트淥ur Future Homes Standard will ensure바카라 사이트痶hat from 2025바카라 사이트痭ew바카라 사이트痟omes바카라 사이트痯roduce at least 75% lower CO2바카라 사이트痚missions and be future-proofed with low carbon heating.
바카라 사이트淭his partnership will help reach our targets for cleaner, greener homes for future generations.바카라 사이트�
Peter Denton, Chief Executive at Homes England said: 바카라 사이트淭his new partnership, the latest in a series of impactful lending alliances, will give smaller housebuilders both the funding and the knowledge needed to build more sustainable homes.
바카라 사이트淭he Greener Homes Alliance brings developers and lenders closer together, providing affordable finance, improving knowledge sharing and creating new paths to net zero.바카라 사이트�
Benjamin Davis, CEO of Octopus Real Estate, commented: 바카라 사이트淐reating more energy efficient homes across the United Kingdom is vital if we바카라 사이트檙e to make progress towards net zero. Our joint venture with Homes England will help meet this increasingly urgent need to develop more sustainable homes.
바카라 사이트淭he Alliance will provide access to funding and expertise to help developers 바카라 사이트榞o green바카라 사이트� when making decisions for their developments. Given the public are more in tune than ever before about how energy efficient their homes are, and in turn their own impact on the environment 바카라 사이트� the opportunity for developers building greener homes is huge.
바카라 사이트淎s a B Corp, Octopus Real Estate is committed to our impact goals and the opportunity to work with the real estate sector, alongside institutional investors, to create choice for developers to future proof developments and drive the green acceleration of the property market.바카라 사이트�
Andy Scott, Head of Residential Development at Octopus Real Estate, commented: 바카라 사이트淎lthough green credentials may be an aspiration for most developers, sometimes access to funding, costs and education can stand in the way of these aspirations.
바카라 사이트淭he Alliance will offer tangible discounts which can help fund the costs to support the delivery of green developments, plus access to advice and education, which will enable SME housebuilders to deliver future proof, energy efficient homes to be enjoyed for generations to come.
바카라 사이트淥n top of this, with the current news surrounding rising energy prices, building more energy efficient homes, with lower running costs, will pass on savings over the long term to consumers. The property market has an opportunity to play a meaningful role in tackling climate change, but we need to act now.
바카라 사이트淲e바카라 사이트檙e excited that we have the opportunity to start making an impact alongside Homes England and to think differently about how we build homes for future generations.바카라 사이트�