The government has now launched the Green Home Finance Innovation Fund competition (GHFIF), considered an important step in making building fabric energy efficiency measures attractive to all consumers.
On 19 August, BEIS confirmed that expressions of interest must be submitted by close 26 September, with the deadline for bids on 14 October. All projects applying must be complete by March 2021. The competition is making £4.63mn available for projects that develop innovative green mortgage and other lending products. Projects will target consumers that would not get support under current government schemes, with successful bids having to demonstrate how the financial product incentivises homeowners to improve the energy efficiency of existing properties, or how it reinforces a market relationship between energy efficient properties and property value.
It is UK-wide and open to financial institutions and mortgage lenders with a retail presence. Partnerships with other organisations, including energy suppliers and smart data and analytics companies, are encouraged. Grants are limited to £1.8mn per project.