P2P property platforms can cut homeowners’ energy bills
Peer-to-peer development lending platforms could help homeowners save hundreds of pounds a year on their energy costs, amid soaring prices.
Regulator Ofgem recently confirmed that energy bills will rise by a record 54 per cent per household from 1 April, reflecting rising wholesale costs.
However, an analysis by Unlatch, a platform that digitalises developers’ sales processes, has revealed that the energy-saving benefits of new-build homes could result in significantly reduced bills.
Several P2P platforms, such as Assetz Capital, CrowdProperty, Kuflink and Invest & Fund, fund the development of new builds that conserve energy usage.
Across England and Wales, the average household currently pays £825 per year in energy costs while the average new-build homeowner pays £401, according to Unlatch.
Following the April price rise, the research predicts that average annual energy bill for an existing home will rise by £633 to £1,457, while the average new-build homeowner is set to see a £312 increase totalling £713 per year.
Read more: How can P2P help with the cost of living crisis?
Assetz Capital has been a vocal supporter of factory-built eco homes to address the housing crisis and wants 95 per cent of all the new homes it funds to have an energy performance certificate of B or higher by the end of 2022.
Chief executive Stuart Law has previously said that the platform funds the development of eco homes that are built more efficiently, letting less heat escape than old housing, and thus cutting energy bills.
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“New-build homes attract a handsome property price premium in today’s market but there’s good reason for this and the ongoing benefits of buying a new home are well worth the higher upfront cost,” said Lee Martin, head of UK for Unlatch.
“The energy efficiency of a new-build is just one of these benefits and as our research shows, the annual energy costs associated with new homes are substantially lower than existing properties.
“That’s not to say that new-build homeowners won’t be equally as worried about the impending increase in the cost of running their home, but, at the very least, this increase should be more manageable on a pounds and pence basis.”