Skipton Building Society is the latest lender to partner with Rightmove to help manage climate risk in its mortgage portfolio.

This move will see every property on the lender’s back book assessed on current and future risks over the next 80 years, using data from flood and climate data specialist Ambiental Risk Analytics.

The partnership will also see Rightmove aid Skipton in dealing with climate change regulatory requirements from the Bank of England (BoE).

Skipton credit risk manager Aidan Walker says: “We’ve made big strides over the last few years in our sustainability and environmental, social and corporate governance (ESG) activities, particularly in how we prepare for and respond to climate change.

“We’ve been working with Rightmove Data Services since 2008 using a number of services including their Automated Valuation Model, so investing in their climate change product was a natural progression.

“The severity and significance of climate change rightly demands our attention, and so analysis of our mortgage portfolio is invaluable to help understand and manage the physical and transitional risks it presents.”

And Rightmove strategic manager in data services Edward Burgess adds: “We’ve put the ‘net zero’ agenda at the forefront of our data analytics, and so developing a climate solution to satisfy the BoE requirements was a natural extension to the services we already offer Skipton and other mortgage lenders.

“We’re in a unique position having access to virtually the entire UK property market, and we know that how green someone’s home is will become increasingly important as the UK strives to hit net zero by 2050, making predictive data vitally important to help businesses plan for the years ahead.”