Green mortgages to be "most common form of home loan"

Posted: 22 Mar 2007 10:58:07 GMT


            Property News - Green mortgages to be "most common form of home loan"

Seven years after launching its first environmentally-friendly mortgage product, one lender now believes that a growing interest in preserving the environment will result in green mortgages becoming the norm within the next few years.

Seven years after launching its first environmentally-friendly mortgage product, one lender now believes that a growing interest in preserving the environment will result in green mortgages becoming the norm within the next few years.

The Co-operative Bank has said that it will introduce further eco-friendly features to its product range in order to cope with expected demand.

Approving of recent greener measures adopted by chancellor Gordon Brown, the bank said that it was dedicated to encouraging consumers to reduce their carbon footprints.

"As part of the bank's established ethical policy we are committed to tackling climate change and supportive of government efforts to increase awareness of energy efficiency," said chief executive David Anderson.

"We plan to extend our green mortgage proposition, which is currently available on all our products, by developing an innovative solution to reward and encourage homeowners to actively reduce their CO2 emissions," he added.

Recent research from Alliance and Leicester found that 37 per cent of mortgage advisors think that green mortgage provision will soar once energy performance certificates are included in Home information packs from June 1st.


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