Tandem Bank has hit a major milestone in its mission to support and finance the UK’s green transition, surpassing £800 million in cumulative home improvement lending, with over 165,000 benefitting from green and sustainable home improvement loans since 2019.
Since 2019, home improvement loan originations have soared by over 850%, with lending volume climbing from £68.2 million to £801.5 million in total. Importantly, 94% of this value has supported green lending, affirming Tandem’s mission to helping consumers transition to a greener lifestyle, saving them money along the way.
Powering the green home revolution:
- Tandem has funded over 21,000 solar installations to date – a 40x increase since 2019.
- More than 104,000 energy efficient boilers financed.
- Air source heat pumps, while slower to scale, have seen 58x growth in uptake.
- Doors, windows and insulation upgrades have also grown steadily.
Julian Nutley, Managing Director of Home Improvement Loans, commented: “We’re thrilled to see the continued success in our home improvement lending business. With households adopting low-carbon technologies at record levels in the first half of the year, we saw application volumes rise nearly 20% in July compared to the previous six-month average – clear evidence that more customers are choosing Tandem to fund sustainable upgrades to their properties.”
Tandem has seen a lot of success over the past period, including breaking into the top 30 (#27) of the Sunday Times Tech 100 List and receiving the Gold accreditation by Investor in Customers for its customer service and proposition. Under its new CEO, Neil Chandler, Tandem is looking to build on that success and continue profitable growth and ensure it continues to open accessibility of greener choices for consumers.
Read the orginal article: https://ffnews.com/newsarticle/funding/going-green-tandems-home-improvement-lending-rockets-11x/
