Green mortgage market ''growing''

The green mortgage market is growing because stamp duty exemption on carbon neutral homes is providing the incentive for people to think green, according to one mortgage expert.

Andy Hammerton, who works for green mortgage provider the Co-Operative Bank, says that concessions for environmentally-friendly homes in the latest Budget and the number of lenders offering green mortgages is indicative of the direction in which mortgages are heading.

He said: "The Chancellor''s announcement was followed by an announcement by HSBC saying that they were going to enter in to it.

"Institutions like that don''t enter into these things lightly. They see it as an opportunity. So I think that is reflective of where the markets going to go to."

He added that the increasing vociferousness of the climate change lobby means that people have accepted this is really happening and are now trying to do practical things to stop it.

Green mortgages aim to reduce the negative impact on our environment and encourage carbon neutral homes with lenders often making contributions to green charities.


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