Octopus Real Estate teams up with Kamma to offer Retrofit Explorer tool

The partnership between Octopus Real Estate and Kamma to implement the Retrofit Explorer tool is set to revolutionize the green residential lending market. The tool will provide brokers and borrowers with a clear view of the upfront costs and returns of retrofitting a home, as well as recommend cost-effective methods for energy upgrades.

This collaboration aims to address the challenges faced by borrowers when it comes to understanding the costs and returns of retrofitting, as well as identifying the most effective upgrades to undertake. By integrating the Retrofit Explorer tool into Octopus Real Estate’s website, the lender hopes to encourage more retrofitting and contribute to decarbonizing housing in the UK.

The tool will complement Octopus Real Estate’s existing green product offering, which includes refurbishment loans that can fund up to £200,000 of works. Borrowers who improve their property’s EPC rating through these works will benefit from a 1.8% per year discount on the interest rate.

Steve Matthews, the head of residential lending at Octopus Real Estate, expressed excitement about partnering with Kamma and highlighted the benefits that come from making positive changes to properties. Together, they aim to drive genuine change and improve the availability of quality, sustainable homes.

This partnership comes on the heels of Octopus Real Estate’s successful completion of over £35m in green homes lending through the Greener Homes Alliance initiative. This initiative, in partnership with Homes England, offers discounted rates to developers to incentivize energy-efficient projects.

Overall, this collaboration between Octopus Real Estate and Kamma is poised to not only enhance the green residential lending market but also make a significant impact on reducing emissions and energy bills in the UK.