Look for mortgage specialist, green builders urged

Those looking to develop eco-homes should look for specialist green mortgage providers, an independent financial advisor has stated.

Simon Harris, a spokesperson for independent financial advisory firm Lansdown Place, said at present it was difficult for people developing eco-homes to get mortgages for them.

He stated: "The main issue with other unusual homes is durability and this potentially applies to homes built with eco-friendly materials."

The problem was that many mortgage providers might lack confidence in the long-term durability of a property built with unusual materials or requiring high levels of maintenance.

Such an issue may apply to those looking to self build an eco-home.

However, Mr Harris added, specialist lenders and specialist green mortgage products were starting to emerge on the market to provide finance for such dwellings, with these emerging in "anticipation" of a growth in green home building.

The government's policy on green building is to make all new homes carbon neutral by 2016.


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