Two market leading and award winning UK proptechs – Chimnie and Propflo – have partnered to accelerate green home improvements. Chimnie will offer homeowners access to a one stop-shop for improvements (GreenVal) whilst Propflo will also utilise Chimnie’s automated valuation model (AVM) to further enhance GreenVal and offer it to its business customers, such as lenders, brokers and estate agents, in the PortfolioAudit tool.
With the government pressing ahead with new minimum energy efficiency standards for the private and social rented sectors, and energy bills rising by 10% this month, it is a key priority for the country. However, £250bn investment is required to bring UK properties up to standard and 80,000 homes needing to be retrofitted per month, so greater awareness and access to information is needed.
Homeowners looking up their property on Chimnie can now:
- View the short and long term benefits and costs associated with making a property more energy efficient
- Get quotes for a wide range of home improvements, from accredited local and national suppliers
- Explore low-cost and do-it-yourself improvement opportunities, available for direct purchase
- Gain insight into the impact a property can have on personal wellbeing, by rating contributing factors such as thermal comfort, air quality, and financial stability.
The AVM will also be offered to Propflo’s business customers, such as mortgage lenders, to help them more cost effectively understand the risks and opportunities in their portfolios. Chimnie’s AVM has been tested against popular models in the market, with valuations typically landing within 5% of alternative providers, delivered at a fraction of the cost.
“We have over 300,000 visits per month checking their property so adding the GreenVal tool to our property profiles seemed an easy choice to make to add value to homeowners” says Tomás Arribas, Chief Technology Officer at Chimnie. “I’m also really excited for our automated valuation models to be used by Propflo to give homeowners and their businesses more detailed reports on their portfolios in terms of energy efficiency. It’s a really great partnership and an example of how growing businesses should work together to grow customer value.”
Luke Loveridge, Founder and CEO at Propflo adds, “This is a great partnership full of mutual opportunities. I’ve watched Chimnie grow over the years and they’ve created a really awesome data platform for property research. We can add value to their platform and visitors by bringing specialist tools for energy efficiency such as GreenVal, and they can augment our platform with cost effective automated valuation models. Really looking forward to working with Jon and the team!”
