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Two-thirds of landlords interested in eco-friendly mortgages – Mortgages for Business

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  • 19/04/2021
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Two-thirds of landlords interested in eco-friendly mortgages – Mortgages for Business
Some 62 per cent of landlords say they are interested in mortgages that reward borrowers for making properties more energy efficient, buy-to-let brokerage Mortgages for Business found.

 

Of the 300 landlords it surveyed, it was older landlords who were more interested in eco-friendly home finance with two-thirds of those over the age of 45 citing so.

For landlords under the age of 45, half were interested in green mortgages.  

As for the gender split, just 15 per cent of female landlords were interested in green mortgages when they first started investing in buy to let. Now, 56 per cent say it is important to them. 

Only seven per cent of male landlords were bothered about green mortgages when they first started, compared to 64 per cent today. 

The firm noted a difference in the attitudes of landlords over the last two decades.

According to the brokerage, just 10 per cent of landlords who purchased their first property in the 2000s were concerned with green mortgage options. 

Jeni Browne (pictured), sales director at Mortgages for Business, said: “We started trading in 1990 and the findings of our poll match our experience of the market over the last 30 years. Landlords’ attitudes have changed dramatically, particularly in the last decade.   

“Landlords should be interested in these products though – quite apart from the ethical considerations, green mortgages reward landlords with a lower rate when they shrink their carbon footprint.” 

Mortgages for Business’ research follows the launch of green buy-to-let mortgages from Keystone and The Mortgages Works last week 

Other lenders such as Foundation and Paragon have also entered the market with eco-friendly offerings. 

Browne added: “Hopefully, our research will help drum up more lender supply. The UK’s largest lenders have launched a wave of climate change products amid criticism over their slow response to global warming.” 

 

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