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The Low Carbon Economy Ltd

12 Mar 2008 06:03:39

Green mortgage market 'will remain static'

Green mortgage market 'will remain static'
The green mortgage market is expected to remain static over the coming months as the credit crunch is likely to continue to affect lending in the UK, although there is not expected to be a decline in the number of carbon-friendly products available.

According to Darren Cook, head of mortgages for Moneyfacts, claimed there is "definite interest in the marketplace" in green mortgage products, which can help homeowners offset the carbon emissions released by their homes.

This can be done in a number of ways, including planting a certain number of trees for every product taken out, or providing loans for green home improvements to reduce the environmental impact of a property.

Mr Cook explained that the products are not likely to disappear from the market any time soon, as they are part of many lenders' corporate social responsibilities, but their presence may remain static until the current credit crunch has relaxed.

He added that people who take out a green mortgage often do so because they feel they have a moral or ethical responsibility to offset their carbon emissions.ADNFCR-1235-ID-18507102-ADNFCR

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