Consumers 'prepared to pay for green mortgages
Nov 14, 2006
Ethical mortgages are growing in popularity in the UK because people are genuinely concerned about the state of the planet, a spokesperson for the Norwich and Peterborough Building Society has said.
Alison Rolls said that although people were aware of the extra costs incurred by green mortgages, people were prepared to pay for them.
She compared ethical mortgages to organic food, saying that people realised that like organic food, taking out a green mortgage did something for the environment and was healthier for them, so they were prepared to pay more.
While green mortgages were not the cheapest type of mortgages available in the market, they were still good value and would come down in price if more people took them out, she added. Some green mortgages are offset by the lenders donating money to environmentally-friendly charities
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