Speaking on a video debate in association with Mortgage Solutions, Paul Fenn (pictured), director of business development at the mutual said borrowers were encouraged to retrofit their homes to make them energy efficient.
He said: “If, as a consumer, I accept I’m supposed to do something about it, I am obliged to retrofit my house because it’s at the wrong rating. If I’m obliged to do that, I will borrow some money.
“I’ve got to borrow this money, so what premium or what margin will Charlotte [Harrison, head of mortgage products at Skipton] charge me?”
Fenn added: “So, if I take my Skipton hat off and put my ethical hat on, should lenders be making a margin on lending to consumers who don’t have a choice? They have to borrow.”
However, Fenn said that lenders had to do something to reach ecological goals and it was about lining up the “value chain” to encourage homeowners to make their homes greener by incentivising additional borrowing.
He also said describing mortgages as green may not be correct as being green had more to do with personal and societal attitudes to environmental concerns.
“I’m not sure I agree with the tag ‘green mortgages’. I think mortgages enable green home ownership. I think the two are different,” he added.
Watch the video below [7.28], hosted by Shekina Tuahene, commercial editor at Mortgage Solutions and featuring Charlotte Harrison, head of mortgage products at Skipton Building Society, Paul Fenn, director of business development at Skipton Building Society and Clare Beardmore, head of broker and propositions at Legal and General Mortgage Club.
Sponsored content in association with Skipton Building Society. For Intermediary Use Only
