Almost a third of the UK workforce intend to continue working from home to save the plant in a self imposed green lockdown.
After the Coronavirus lockdown 3 million people in the UK intend to save the planet and work from home according to research from Halifax.
The pandemic has deeply impacted the views of people with 41% more aware of climate change while 58% do not expect things to return to normal and a third would make green improvements to their homes.
This could impact demand for types of property as first time buyers and home movers re-assess their needs for more space for their family with a self-imposed lockdown.
Making the planet green from home
The response to lockdown has given hope to 57% of people that real change by global communities can be made to tackle the climate emergency.
According to the study 81% believe working from home is a solution to reducing emissions although this could be counter-productive for homes that are not energy efficient.
To lower emissions home movers can look at buying property with good energy efficient credentials such as double glazing, insulation, efficient boilers or use of renewable energy.
For remortgage buyers a further mortgage advance to lower emissions allowing you to improve your home with energy efficient lightning, kitchens or bathrooms and smart thermostats.
For those renting, 53% are worried about the cost of their home not being energy efficient and 27% are requesting that buy-to-let landlords make improvements.
Of those asked in the survey, 32% said they would be encouraged to make the green improvements to their home if there was advice or financial incentives.
Saving money remains a priority
Lockdown has heightened the concern of a climate emergency with 80% of the public worried and 54% of UK adults looking at ways to reduce the cost of living at home as energy usage has risen by £17.40 per month.
The first step for 62% of people has been to reduce their household and carbon emissions by switching off lightning and heating as much as they can while at home.
Although these costs are a concern, only 4% of those asked has actually reviewed their home energy performance certificate which could help them save money on their energy bills.
For older homeowners, making improvements in their property to reduce energy costs is possible as the equity release buyer can access money using a lifetime mortgage without the need to provide evidence of earnings.
It is important to realise that if you work from home for green reasons that you need to take action to improve the efficiency to avoid increasing your carbon emissions.
What are your next steps?
Talk to our London City Mortgage advisers if you are an older homeowner releasing equity from your property, we can recommend the lifetime mortgage to access wealth to consolidate debt, home improvements or gifting to a family member.
Learn more by using the equity release calculator, property value tracker chart and mortgage costs calculator. Start with a free mortgage quote or call us and we can take your details.
At LCM our mortgage brokers can provide advice if you are a first time buyer, moving home, want to remortgage your existing home to a new cost effective mortgage deal or are a buy-to-let investor.
