Mortgages

Green Mortgages

Whilst this type of mortgage lender is not as visibly apparant as others, there is increase in the amount of products on the market.

There is, as with all mortgage products, a criteria attached. Some more indepth research is reccommended as new initiatives are being offered on a regular basis from specialist lenders.

Green mortgages are available to first time buyers, homebuyers moving house or remortgaging from another lender.

 

The mortgages are portable as long as the new property has an appropriate Standard Assessmnet Procedure (SAP) rating of 100 or more or a property that you want to make more energy efficient.

The Ecology Building Society and the Norwich & Peterborough Building Society are amongst the main providers for this type of mortgage.

N&P Building society offers a 'carbon neutral' mortgage. The society will plant eight trees a year over five years for every home bought or remortgaged with its green mortgages.

It will also give a discount on its standard rate if you improve the energy efficiency of your property. The most popular way to do is this by insulation in the walls and through the roof, grants are available for this.

The latest initiative for some ecologicaly minded home owners is to have a bore hole.

These are becoming more popular and can be found between the front door and the kerb of some city homes to cut the cost of the house hold water bills.

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