Govt incentives turn UK green

Government incentives for energy efficient housing are driving the market for green mortgages, according to banking experts.

Stamp duty exemptions for zero-carbon homes and energy efficient ratings included in Home Information Packs are two of the incentives driving home owners to go green.

"Stamp duty is the biggest single expense when you buy a property in most cases so the construction industry responds to consumer desire to buy carbon neutral homes and therefore lenders are looking to adapt to consumer needs," said Andy Hammerton from the Co-operative Bank.

"I think all of these things will help in the long term to drive the industry response to green and environmental concerns."

A few mortgage lenders themselves are going green and offering green mortgage options. These do things like making an annual donation to an environmental charity.

The government''s Climate Change Bill commits the UK to lower its carbon emissions by 60 per cent by 2050.


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