Propflo Secures £860K to Develop ‘Retrofit-as-a-Service’ for Mortgage Industry

Propflo, an award winning AI property platform, has been awarded over £860,000 by Innovate UK to further develop advanced data-driven portfolio approach to net zero and scale its ‘Retrofit-as-a-Service’ solution for lenders, intermediaries and estate agents. This funding is part of a highly competitive £5m two-phase programme on Net Zero Heat and is due to run until March 2025.

The primary focus of the project will be developing Propflo’s portfolio AI insights and linking these to its retrofit one-stop-shop (GreenVal) and its ongoing engagement platform (HomeHub). The goal is for lenders, intermediaries and estate agents to have everything they need to support their customers to retrofit their properties in a streamlined and joined up process.

A key part of the project will be testing a model for mortgage intermediaries who play a trusted role in advising homeowners and are forecast to be responsible for 90% of mortgage distribution in 2024. Habito was recently the first mortgage intermediary to launch a retrofit tool – GreenVal – and will now be the primary partner testing the end-to-end solution.

Other partners on the project include:

• Action Net Zero: A sustainability social enterprise facilitating homeowner engagement to ensure no vulnerable households are overlooked.
• Propcert: A leader in EPC assessments, partnering with Propflo to provide the Enhanced EPC and facilitate the installation of smart home technology for verification and monitoring.
• A variety of improvement suppliers including Glow Green and Aico Homelink.
• Stakeholders including mortgage lenders, intermediaries and estate agents who will take part in the learning and scale up of the solution.

“The UK’s £200bn retrofit challenge is a national priority; not only to meet our legally binding carbon targets and reduce energy bills, but to ensure our national energy security, improve health outcomes, and boost affordability in the housing market. This collaboration between innovative partners will elevate Propflo’s retrofit solution, making it the most sophisticated option for lenders, brokers, and agents.”

– Luke Loveridge, Founder and CEO, Propflo