Mortgage Climate Action Group (MCAG)

Legal & General, Sesame Bankhall Group and SimplyBiz Mortgages have partnered to form a new Mortgage Climate Action Group.

The group’s aim is to interpret new climate change legislation and engage with industry stakeholders to provide guidance and practical help for advisers.

The Mortgage Climate Action Group will act as a source of support for intermediaries, helping them to understand and address green issues when dealing with mortgage applications, and ensuring that advisers’ interests are represented among lenders, regulators, trade bodies and government institutions.

For example, energy efficiency is playing an increasingly important role for advisers in securing mortgages for their customers.

The latest figures from the Department for Business, Energy & Industrial Strategy (BEIS) suggest that the residential sector accounts for nearly 21% of the country’s CO2 emissions, and according to the Office for National Statistics (ONS), fewer than half of homes in England and Wales have rated energy performance certificates (EPC) C or higher.

The three companies have already started working with lenders and the Association of Mortgage Intermediaries (AMI). The companies have also urged others within the industry to support the initiative.

Anyone interested should speak to the three distributors, direct with Michele Golunska, Richard Merrett, or Kevin Roberts, or with their own distributors who are encouraged to join.

Sesame Bankhall Group chief executive Michele Golunska says: “Climate change action is clearly a bigger issue than housing and mortgages alone, however new legislative changes will radically alter consumer options and choices in mortgage lending. Mortgage advisers play a critical role in helping customers secure what is likely to be their largest-ever purchase. We are focused on ensuring they are robustly supported to do so.”

Legal & General Mortgage Club director Kevin Roberts comments: “We believe that collaboration will be key to addressing this hugely important issue. We have already been working closely with lenders and will soon be able to deliver educational content, available as structured CPD pieces, centred on supporting the advice journey.”

“But our aims extend beyond sharing practical guidance alone, and we are committed to ensuring advisers’ interests are represented among various government and trade bodies, while helping intermediary businesses develop their own sustainability guidelines.”

SimplyBiz Mortgages head of strategic development Richard Merrett adds: “This is about ensuring that advisers have a voice and are supported in playing their part in raising awareness. We hope to create a positive culture around identifying the issues impacting consumers and giving clarity to advisers around what is entering their world, so they have greater opportunities to demonstrate expertise and advise on actions with their clients.”