Green Mortgage Advice: Green, Eco Friendly, Ethical Investment
Whilst their are two or three lenders that you might consider that they are 'green' or that they offer ethical mortgages, the market for green mortgages is in fact quite small.
This is mainly for two reasons:
- People are less concerned about who they borrow from rather than how they invest.
- Lenders that are still 'building societies' i.e. owned by their members as mutual organisations, with all the restictions of building society investment rules under the Building Societies Act are getting fewer by the day.
Many lenders have now demutualised to limited companies as banking operations and do not have the investment restrictions imposed under the Building Society Act.
Active policy
That said, there are still lenders who make donations to climate control organisations to offset their own emissions and there are lenders who have an active policy for managing emissions and becoming more ethically friendly.
Others replant their own forests, use only sustainable forests for their paper or indeed use recycled materials.
Costs
As a general rule, ethical lenders are mainstream lenders and you will not pay more for the privilege of borrowing from them.
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