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Mortgage lenders have a green responsibility, expert claims
Tue, 27 Feb 2007
Mortgage lenders have as much of a responsibility to promote environmentally-friendly compliance as homeowners, according to one expert at UCB Home Loans.

UCB managing director Keith Astill assert that mortgage lender and homeowners alike should be committed to protecting the environment through green initiatives and better awareness, stating that there is a wide obligation to reduce carbon footprinting and promote practical ways of saving energy. "Both lenders and homeowners have increasing obligations to take action on initiatives that will reduce their carbon footprint," he said, continuing to highlight the energy efficiency aspect of upcoming home information packs as an important part of meeting efficiency targets.

As of June 1st home information packs will be compulsory, meaning that all homes on the market will require an Energy Performance Certificate. In this way the value of a given property could be directly affected by its energy rating and emissions levels - potentially impacting upon eco-conscious mortgage hunters.

Mr Astill also maintains that homeowners should be given help to improve energy efficiency in line with government targets to have all new homes be carbon neutral by 2016.

The Council of Mortgage Lenders recently outlined an interest in the concept of a green mortgage, which would ideal link environmental issues to a unique mortgage product.

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