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Mortgage firm offers incentive to go green

Fri, 01 Aug 2008

One environmentally-friendly mortgage lender is offering consumers help with making their home more energy efficient.

The Ecology Building Society offers anyone who remortgages with them a one per cent reduction in their mortgage rate for any money spent on green home improvements .

Paul Ellis, chief executive of the firm, believes that the reduction in interest rates, combined with the money people will save through lower utility bills, means the C-Change mortgage makes sense.

He said: "Our C-Change mortgage borrowers are already greening their streets and making a direct contribution to reducing carbon emissions, while benefiting from long-term discounts which don't rely on switching every couple of years."

The mortgage offers a basic rate of 6.45 per cent, Mr Ellis added.

Earlier this week, research from MoneyExpert.com revealed that long-term fixed rate mortgages now account for 15 per cent of deals on the market.

This compares to ten per cent in July 2007.
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