Green Mortgages

ahandpatsy

Hello, I am wanting to get a green mortgage to go with my new "green" property. Has anybody ever seen anything suitable.

Thanks

Ahanpats

Poundcounter

In what way do you think normal mortgages are environmentally harmful?

epz_2

i think the op is probably wanting to have something similar to green savings where they dont invest in companies with unethical/ enviromental markets.

frankly banks while still evil make more than enough money lending money to need to buy a pesticide factory.

if it really bothers you plant a tree and it will more than offset the paper they send through your door over its term

MortgageMamma

Hi There

I dont know a huge amount about this but I think

Norwich and Peterborough
The Ecology building society
Co-Operative Bank

All do them. If I think of anymore I will update the thread as and when. There has been quite a lot of talk within the industry about them lately, with the HIPS and energy performance certificates raising the awareness.

Will you tell us about your new green home? is it on one of these specially built villages in london?

ahandpatsy

Firstly my new green property has a 5KW wind turbine on the land to generate enough electricity for me and to sell back to grid. Hopefull of payback in 7 years.

Also I heard of a company called Giraffe Mortgages (backed by Bristol and West) that does green mortgages. Any feedback

Poundcounter

So how is a green mortgage different to any other? No one seems to want to want to answer that one. Perhaps the OP just wants to see the word green on the mortgage.

RichyRich

I think a green mortgage is one where the institution backing it abides by "green" principles, for example offsetting of carbon emissions, using email instead of paper for memos, using "green" electricity instead of stuff from coal, etc.

The Ecology Building Society, based near Bradford, are well known for this.

HtH
Rich

Poundcounter

Thanks for that Rich, but I'd hardly call the things you mentioned "green principles", more like green wash. Still, if that's what the OP wants...

MortgageMamma

Well I confess I know little about them, but any backing of ethical companies and charities that contribute to the wellbeing of us all can only be a good thing. I can tell you now though if green mortgages were a fad there would be a hell of a lot more of them

hollyblue

This is what N&P say:-

A special mortgage for new homes only (i.e. homes which have a Standard Assessment Procedure (SAP) rating of 100 or higher) or an existing property that you want to make more energy efficient.

For every customer who takes out a "Green" mortgage we will plant 40 trees. In other words, when you choose a Norwich and Peterborough Green mortgage, we will do our bit to help the planet breathe.

lynzpower

"green" financial products are a niche industry, but they are certainly growing.

A good place to start is http://www.ethicalinvestors.co.uk/

Specialist page for mortgages here
http://www.ethicalinvestors.co.uk/mortgages/index.htm

I took some advice on my mortgage being ethical and to be brutally honest, the only one that would touch me with shared ownership was so ridiculously expensive I just couldnt do it.

im not an advisor, but I do rate the smile & co-operative as banks ( i have savings and current accounts with them, had Credit cards with them in the past too) and Ive always been impressed.