Green mortgages unaffected by credit crunch
Published On 16 January 2008
The ethical mortgage market has remained unaffected by the credit crunch, it has been reported.Norwich and Peterborough Building Society maintained that those interested in taking out a green mortgage are driven by different considerations, and that subsequently there has been no change in the market.
Alison Rolls, a spokesperson for the building society, commented: "The type of person who is likely to make an enquiry about a green mortgage and follow through that by taking one out has slightly different priorities - they're not quite so rate driven anyway."
She added: "The reason they're interested in a green mortgage is because of their personal ethics, so we've seen no difference at all and I would be very surprised if there was any difference in the market at all."
Lenders which offer the green mortgage package often make contributions to charities that support the environment.
Currently, the package is only offered by three lenders: The Co-Operative Bank, The Norwich & Peterborough Building Society and The Ecology Building Society.
