Why only 6% of brokers have ever sold a Green Mortgage despite the high public profile of energy-saving products?
A green mortgage in the UK is a mortgage that offers buyers of energy-efficient homes favourable terms for this choice of property. Most often, lenders offer a lower rate of interest or cashback on green mortgages.
Countrywide Surveying Services (CSS) conducted a poll amongst 200 brokers operating in both the buy to let and owner occupier sectors.
The results highlighted that only 6% of brokers surveyed have ever sold a green mortgage, despite the high public profile of energy-saving products.
Managing director of CSS, Matthew Cumber says: “It’s fair to say that a multitude of drivers currently exist for lenders to enter the green mortgage market but this still represents a small piece of the jigsaw and it’s up to us, as an industry, to help a range of potential buyers and homeowners to better understand the energy performance of their homes.”
In the poll, no fewer than 92% of respondents admit not yet having valued a property with an A-rated EPC.
One key finding was the belief amongst brokers that there appeared to be relatively low awareness amongst the wider public of energy efficiency law changes and raised expectations.
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