A new piece of research has found that the number of mortgage lenders in the UK who are offering green mortgages as part of their range has gone up.
This research study was conducted by the Mortgage Advice Bureau (MAB). It spoke to most of the big lenders across the country. The results show that 57% of them are offering green mortgages. That marks a rise of 4% in comparison to the figure for the same time last year, indicating that this is a growing part of the mortgage market.
That is further supported by the fact that 59% of the lenders that MAB consulted for the study – close to six out of every 10 – indicated that they saw green mortgage loans as something they would always be offering from now on. 12% of the lenders surveyed even stated that they expect them to take the place of standard mortgages at some point.
This is a minority view though; with 84% anticipating that traditional mortgages will continue to be on offer to customers as well as their environmentally-friendly alternatives.
However, a number of lenders did state that other issues were more of a priority to them. 39% cited product expansion as the main focus, with 16% naming affordability.
Ben Thompson from MAB said that while the rise in green mortgages is good news, it is vital to maintain the focus on environmentally friendly products.
Advisors with the CeMAP qualification can help by highlighting green mortgages to clients.
