Skipton Building Society launches ‘The Big Retrofit' to help UK reach net-zero target

It also calls on the Government to provide clear retrofit expectations for homeowners, not just landlords and an extension to 0 per cent VAT on energy-saving home improvements beyond 2027.

Skipton said it will use the report’s findings to shape products, and educate its staff.

Michaela Wright, Group Head of Sustainability, said: “The Big Retrofit is more than a report, it’s a call to action. “We hope this helps homeowners, policymakers, and the housing industry move faster, smarter, and more affordably toward a low-carbon future.”

“We are committed to making a meaningful impact on the UK’s transition to net-zero homes. The lessons learned from The Big Retrofit project will serve as a valuable resource for homeowners,

policymakers, and industry leaders alike. We want to make retrofitting accessible, practical, and affordable for all, and The Big Retrofit is just the beginning of our efforts to support our members and the broader UK housing market.”

Garry Felgate, Chief Executive of The MCS Foundation, an organisation that aims to protect the environment by creating a carbon-free future, said: “This report builds on research by The MCS Foundation that shows that while 43 per cent of homeowners plan to carry out energy efficiency improvements to their property, they also know some measures are expensive and access to finance is needed.

“It is very encouraging to see Skipton Building Society, a lender that can help fund energy efficiency improvements in homes, calling for Government policy to support wider-scale retrofitting.

“In particular, the recommendation to extend the zero-rating of VAT on domestic renewable energy installations, a policy that The MCS Foundation campaigned to introduce, is very welcome.

"So too is the call to reduce the cost of electricity to incentivise the transition to electrified heating, as this will support the renewables sector, tackle fuel poverty, and help net zero all at once.”

In addition to the retrofitting project, Skipton Building Society continues to offer a green additional borrowing product for those wishing to finance retrofit either in their own property or for landlords seeking to upgrade their portfolio.