News: Eco Shock: Six-fold rise in landlord interest in Green Mortgages

Tue, 20 Apr 21

Three in five landlords are interested in green mortgages - a huge surge in recent times.

The buy to let broker Mortgages for Business says its latest analysis shows that 62 per cent of landlords describe themselves as interested in mortgages that reward borrowers with discounted rates for making properties more energy-efficient and shrinking carbon footprint.

The broker’s study of more than 300 landlords across the UK, suggests a sea-change in attitudes to green mortgages.  

It reveals that none of the landlords who had purchased their first buy to let property before 2000 said they had been interested in green mortgages at the time. And only 10 per of the landlords who had acquired their first BTL property in the 2000s said they had been interested in green mortgages when they made the purchase.

Perhaps surprisingly the turnaround in interest in green mortgages is higher amongst older landlords. 

Only half of landlords under 45 polled by Mortgages for Business said they were interested in green mortgages - compared to two thirds of those over 45 of older.

The broker’s director, Jeni Browne, says: “We started trading in 1990 and the findings of our poll match our experience of the market over the last 30 years.  Landlords’ attitudes have changed dramatically, particularly in the last decade.  

“Landlords should be interested in these products though - quite apart from the ethical considerations, green mortgages reward landlords with a lower rate when they shrink their carbon footprint.”

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