NatWest rolls out an energy solution for struggling UK homeowners
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NatWest, one of the leading UK banks, recently unveiled a home energy hub for its customers. According to the bank, the hub will help UK homeowners make energy-efficient changes in their properties.
Around 66% of UK homeowners plan to upgrade their properties
The bank’s new hub comes as a way to address the UK citizens’ struggle with elevated energy bills, but also due to growing concerns of climate change. Prior to launching the new solution, the bank conducted research that revealed that the UK public is very aware of climate change issues and concerned about them.
Furthermore, the bank had found that 66% of UK homeowners are willing, and even planning to upgrade their properties in order to reach sustainability in the next decade. With all the resources at its disposal, NatWest decided to help speed up the process as much as it can.
Its solution was to launch the new Home Energy Hub, which will allow homeowners to identify and understand specific improvements that its users could make to their properties. Once this step is done, the hub will also help the customers understand the costs that would most likely be associated with the range of retrofit options.
Further, it helps them access local providers and experts who can provide their views on the matter, and even do the work required to make these changes into reality. One of the tools that the bank has made available for the users is the affordability calculator, which allows homeowners to understand the financial aspect of the situation.
They get to learn how much money they will need, and how much they can borrow using a range of the bank’s funding options.
UK citizens need more accessible solutions, suppliers, and funding
NatWest’s head of mortgages, Lloyd Cochrane, commented on the new development, stating that the bank’s own research has unveiled a number of barriers that homeowners experience when trying to make energy efficiency improvements to their homes.
He noted that the new Hub is the first step in helping them solve this problem, specifically by increasing the speed and level of their understanding of the situation, but also by making it faster to commission and pay for the work needed to make their plans a reality.
“Relevant solutions, suppliers, and funding needs to be more accessible to customers and homeowners across the UK. In order for people to realize the potential benefits and confidently undertake work in their homes, it’s incredibly important that we’re able to provide viable solutions to these property owners. Partnerships are key in helping us to do that and helping customers to get started on their home energy efficiency journey,” he explained.
