17
Jan
Green mortgages still a niche product
Green mortgages will remain a "very much a niche product" this
year, according to Norwich and Peterborough Building Society.
Allison Rolls of the building society said that the growth rate for
the products has been slow and this will remain the case as buyers
look for low rates as a priority.
Green mortgages, which are also sometimes referred to as
sustainable or ethical mortgages, have been on the market for
around a decade.
However, Ms Rolls said take-up had been "much slower to grow than
would be good for the environment."
"It would be nice to think that they put the environment more on
their shopping list, but at the moment it's a fact that it's all
about rates and less about ethics," she said.
According to Mortgages.co.uk, the Co-operative Bank, Norwich and
Peterborough Building Society and Ecology Building Society all
offer green mortgage products.
