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Danske Bank enters England market with carbon neutral mortgage

  • 24/01/2022
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Danske Bank enters England market with carbon neutral mortgage
Danske Bank UK has launched into the British mortgage market by making its carbon neutral product available for residential homes in England.


They will initially be available through Mortgage Advice Bureau advisers on properties in the South East, South West and East of England, excluding London. 

This follows the launch of the Danish bank’s mortgage into Northern Ireland last year.  

Homes will need to have an Energy Performance Certificate (EPC) or a Predicted Energy Assessment (PEA) rating of A-C. 

The mortgage will be open to those with a minimum deposit of five per cent, including first-time buyers, home movers and remortgagors. The bank will lend up to 90 per cent loan to value (LTV) on new-build homes and will lend to borrowers using the Help to Buy scheme. 

Danske Bank is working with Carbon Trust to offset the emissions caused by the mortgage process with wind energy projects in India. This includes electronic activity and the paper documentation.  

Carbon Trust calculates that the bank emits 96kg of carbon for every mortgage. 

The bank has appointed a team of business development managers to work with brokers operating in Britain. Brokers will also have direct access to the underwriting team in Northern Ireland via a dedicated help desk. 

Patrick Mullan, head of GB mortgages at Danske Bank, said: “We’re already a market leader in Northern Ireland and have a significant presence in the mortgage intermediary market there, so it’s a natural step for us to bring that expertise and capability to benefit consumers in England. 

“Danske Carbon Neutral Mortgages now account for around 25 per cent of our new mortgage business in Northern Ireland. It’s a unique proposition in the market, which rewards customers for choosing greener homes, and ensures that the mortgages we provide on these homes don’t contribute to rising greenhouse gas emissions.” 

Brian Murphy, head of lending at Mortgage Advice Bureau, added: “Mortgage Advice Bureau are delighted to have access to Danske Bank’s mortgage products, albeit initially on a limited geographical basis from the outset.  

“We have been engaged with Patrick and the team for a considerable amount of time, specifically around their launch onto the UK mainland, and thanks to our experience with advisers operating across Northern Ireland, we know what a valuable lender they have been – and having access to their products across a much larger group of advisers can only be beneficial for our customers.” 

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