Mortgage News
More green measures from Government
The Government has revealed it is serious about being green, with a range of new housing measures an…
The Government has revealed it is serious about being green, with a range of new housing measures announced to combat carbon emissions and increase energy efficiency.
Following Chancellor Gordon Brown’s announcement in his pre-Budget report that the Government would unveil plans to ensure every new house was a ‘zero-carbon home’ in 10 years, Communities Secretary Ruth Kelly announced the initiatives last week.
Kelly said the housing industry had to take onboard the recommended measures to achieve the Government’s environmental goals. She said: “Nowhere do all these priorities come together as closely as in housing policy. Building the homes we need for future generations, while tackling climate change, is one of the most complex environmental challenges facing the country.”
Exempting zero-carbon homes from Stamp Duty, making it easier to make changes to existing stock and introducing a new Code for Sustainable Homes and a green star-rating for new properties, were among the measures announced.
Neil Johnson, PR and policy manager at the Building Societies Association, said it was interesting that the Government recognised market solutions were needed to address the energy concerns, adding: “The measures also offer a new element for mortgage brokers, as their clients who want to add value to their homes by building a conservatory or a loft will now be looking at solar heating and double glazing.”
But David Orr, chief executive of National Housing Federation, said the timetable for change was too slow and the Government’s initiatives lacked teeth and it should be aiming for all new buildings to be carbon neutral by 2012, instead of 2016.
Commenting on the announcement, Alison Rolls, spokeswoman at green mortgage provider Norwich and Peterborough Building Society, said: “All parties should have the same aim – to refurbish existing properties and build new homes to a higher standard of energy efficiency.”
Ecology Building Society is another lender which has stepped up to the plate, with the launch of a new mortgage discount to help combat climate change. It rewards borrowers with 1% off units standard variable rate on mortgage funds used to equip homes with energy saving solutions and renewable energy generation.