Green lender profits from eco-friendly home improvements

The Ecology Building Society, based in West Yorkshire, has announced record-high yearly results which it attributes to an increase in environmentally friendly property renovations.

Gross lending for the building society - which only gives loans for eco-homes, green renovations and energy-saving enhancements - was £15 million in 2007, which was nearly twice the previous year's level of £7.7 million.

Chief executive Paul Ellis said that the green priorities of homebuilders - who include those who are self building their homes - have led to its profits.

"Not only are we doing well financially, but the ecological quality of our lending continues to be strong," he commented.

He added that there has been a lot of progress made in "accrediting well-built, energy-efficent new homes".

The Ecology Building Society has been offering green mortgages since 1981 and began when ten people contributed £500 each.


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