Supporting the UK housing market
Helping Britain recover by expanding the availability of affordable and quality homes.
Providing sustainable homes
UK homes currently account for 23% of the country’s total carbon emissions and 35% of energy use. At least 19m of the UK’s 29m homes still need to become low carbon, more energy efficient and more resilient to a changing climate.
We’re helping homeowners understand the impact their home has on the environment and we’re educating, encouraging and rewarding them to take action to improve it.
We’ll do this by providing £10bn of green mortgages over the next three years across our trusted Lloyds Bank, Halifax and Bank of Scotland brands, and a new buy-to-let green mortgage product through Birmingham Midshires. We’ll also look to lend more money where we think improvements being made will improve the energy efficiency of the customer’s home.
Our actions will go beyond traditional lending too. We’ll provide a cashback incentive where customers buy a new property which has an EPC rating of A or B. We’re working with housebuilders so customers have affordable and easy-to-access opportunities to retrofit their homes, making them greener.
Working with the housing industry, we’re providing green financing and sustainable investment products to clients across both private housebuilding and social housing sectors to help them on their journey to net zero.
Beyond investment products, we’re helping to shape national sustainability standards for housebuilding finance through our membership of the NextGeneration Executive Committee.
By supporting our customers to improve the energy efficiency of their homes, we’re able to make a big impact on reducing overall UK emissions on our path to net zero.
And by improving the energy efficiency of these homes, we’re also helping to reduce running costs for customers over the longer term.
Lloyds Banking Group’s contribution to UK housing:
£16bn to 80,000
lent to first time buyers.
of green mortgage lending by 2024.
of new funding delivered, of which £2.4 billion is ESG-related improvements, in support of the social housing sector.
of social homes assessed for their energy retrofit requirements.