more2life has announced a new partnership with property services company, Vibrant, to provide customers with a free Energy Performance Certificate (EPC).

The partnership will initially offer a free EPC to new customers choosing to take out one of the lender’s new “flexi choice” loans.

more2life said it plans to track the success of this initiative with advisers and customers to help guide a wider roll-out across other products in the future.

The two firms have comes together in response to the rising cost of living in the UK as well as the current spike in household energy bills. more2life stated that the partnership aims to help later life lending customers develop a better understanding of the current energy efficiency of their property.

“At a time when many are counting the pennies before switching on the central heating, knowing your property’s energy efficiency has never been more important,” commented director of manufacturing and adviser propositions at more2life, Les Pick.

“We are proud to work with Vibrant, the leading supplier of EPCs to the residential sector and to offer our customers a free EPC when they take out equity release with us.

“The EPC will include a range of options that our customers may wish to consider to make their home more energy efficient and reduce their monthly energy bills and environmental  impact. Many of our customers take out equity release because they love their home and don’t want to downsize, so we wanted to find a way to provide free access to important information about their property.”

Managing director at Vibrant, Daniel Kittow, added: “Typically, you think about taking out an EPC when you buy or sell a property. However, it provides valuable information that can benefit all homeowners – especially as the cost of living continues to bite and people need to consider how they can better manage their utility bills.

“Furthermore, the UK is working towards a ‘net zero carbon’ emission target from residential property by 2033 – the EPC forms the assessment basis for this national target.

“We are delighted to be working with more2life to reach older borrowers who intend to remain in their homes for many years to come and therefore would ordinarily not been in a position to benefit from the insight provided by an EPC.”

more2life added that if customers do not want an EPC, they will not be obliged to take one as part of their lifetime mortgage application.

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