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Green Finance Institute brings out green mortgage hub

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  • 25/11/2021
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Green Finance Institute brings out green mortgage hub
Green Finance Institute has launched a green mortgage hub which collates all publicly available information on green deals into an interactive table.

 

The hub will also have a library of articles, reports, tools and pilots related to the green mortgage market.

It aims to encourage lenders to enter the green mortgage market and to provide a “trusted source of information” for mortgage intermediaries, policymakers and non-government organisations (NGO).

Green mortgage products can either offer improved mortgage rates for customers building or buying more energy efficient homes or provide additional borrowing options along with an existing loan to those looking to improve their energy efficiency.

Other products offer tools to help customers understand home improvements they can undertake on their property to improve their energy efficiency.

The green mortgage market is growing in popularity, with 10 lenders brining out such products since the start of the year.

Recent Intermediary Mortgage Lenders Association research, showed that 77 per cent of lenders were planning to launch green mortgages that were cheaper or priced the same as a typical product.

Emma Harvey, programme director at Green Finance Institute, said: “The finance sector is starting to embrace the opportunities that green products offer to support their customers in the decarbonisation of their homes, and providing information, tools and case studies can help to encourage innovation.

“The Green Mortgage Hub will provide a snapshot of UK green home financing, acting as a resource for lenders to continue developing innovative green home finance solutions.”

Currently the hub has 31 products listed on its table and five pilots, initiatives or tools.

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