What Are Green Mortgages?
Fixed rate, flexible or tracker? Mortgages can be a minefield of jargon and complicated decisions - particularly in this rather unsettled current property market climate. However, one thing you should be sure of is the ethical stance of your mortgage lender.
With more and more of us caring where our money is being placed, a number of green options have become available to help you make environmentally friendly and ethically sound financial investments. And where better to start than with probably your biggest investment of all, your mortgage?
As energy efficiency becomes a more central part of the buying and selling process with the introduction of Home Information Packs and Energy Performance Certificates, you can also do your bit by choosing a greener mortgage. There are a growing number of offerings on the mortgage market which will help you make your home energy efficient and put something back into the environment.
Here, we outline some of the most popular options. As with all financial offers, do check with individual lenders that these offers are still available, or what other green options are on offer.
Co Operative BankThe Co Op Bank is probably the best known for its ethical approach to lending and dealings. Their mortgages include options that will offset the carbon emissions generated in your home for the lifetime of your mortgage, based on an estimated rate of energy consumption. They estimate that their offsetting campaign has reduced the average household carbon footprint for their customers by around a quarter.
Their Ethical Policy is also one of the most robust on the market, and has shaped and influenced the policies of other lenders. This means that you know that your money won't be funding any activities that are unethical, or particularly bad for the environment.