Getting mortgages ''encourages people to be green''
Published: 4 July 2008
By MoneyhighStreet Staff Leave a Comment
Updated: 30 November -0001
People who have already got mortgages and onto the property ladder are more likely to consider their environmental qualities of their home than those who are renting, a new report has shown.
Research from website Tescocompare.com found that 68 per cent of homeowners class themselves as environmentally friendly, compared to only 57 per cent of those people living in private rented accommodation.
Unsurprisingly, general concerns about the world''s future topped the list of reasons for green action for both people with mortgages and those renting. However, the report also showed that the soaring price of fuel and energy had inspired 54 per cent of homeowners and 37 per cent of renters to consider the sustainability of their living arrangements.
"Our research offers an interesting insight into the different triggers that encourage people to go green," commented Paul Baxter, director of commercial and partnerships at the website.
"Homeownership clearly is an important point in people''s life when they reconsider their impact on the environment.
"With mortgage rates on the rise, inflation on the up and utility bills believed to increase by up to 40 per cent by the end of this year, it is not surprising to see that homeowners are taking swift action to take advantage of the money savings to be had through being green."