Green mortgages 'a niche product'

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Green mortgages 'a niche product'

Green mortgages are still not a mainstream product but appeal to a niche audience, it has been claimed.

Alison Rolls, spokesperson for Norwich and Peterborough Building Society, said that she hopes the market for such products will "grow and grow" but she does not anticipate that happening in 2008.

"We've lent green mortgages for ten years now and it's much slower to grow than would be good for the environment," she remarked.

Mr Rolls explained that the current climate is "all about rates and less about ethics", but added that change is happening slowly.

Green mortgages could be one of the lifestyle changes that people take up in the new year, she added.

Other providers which offer green mortgages include the Co-operative Bank and the Ecology Building Society.

Green mortgages attempt to reduce negative environmental impact by making donations to certain charities or only investing in responsible companies.
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