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New green mortgages introduced by the Government

27/04/2007

The government is trying to make borrowers opt for environmental pollution free products, namely green mortgages. They feel reducing carbon emissions will create a greener society within the market.

The government is aiming as a back up to include stamp duty exemption via zero-carbon properties and to put forward energy efficiency scores in the new Home Information Packs which suggested to take place in June 2007.

The press officer from the Co-operative Bank, Andy Hammerton commented further on how the environment can be saved;

"At the moment the government is trying to do that through incentives,"

"It has a Climate Change Bill which is going to commit the UK to lower its carbon emissions by sixty per cent by 2050, so businesses and consumers are going to have to adapt their lifestyles."

A few weeks ago Peterborough and Norwich Building Society stated that green mortgages will stand a high product within the market when released.


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