14
Mar
Green mortgage market 'may remain static'
As a result of the credit crunch, the market for green mortgages
may not grow significantly in the near future, it has been
claimed.
Darren Cook, head of mortgages for Moneyfacts, said that although
"there is an interest in the marketplace" for environmentally
responsible financial products, lenders that provide them usually
do so as a result of their company ethics.
He explained that in the current mortgage climate, the emphasis is
on "the underwriting and having a healthy lending book", which may
mean that lenders are not specifically looking to add more green
mortgage products.
Currently, five lenders offer green mortgages - the Co-operative
Bank, Ecology Building Society, Norwich and Peterborough, Giraffe
and the Hanley Economic Building Society.
Some of the eco-friendly benefits offered by these products include
planting trees, donating to carbon offsetting charities and helping
homeowners reduce the environmental impact of their homes.
