While the inclusion of an energy efficiency report in the UK’s Home Information Packs is designed to raise home owners’ awareness of the environmental impact of their properties, the American product takes this one step further by encouraging environmentally-friendly homes.With the energy-efficient mortgage, funded by Fannie Mae, the home is inspected and scored by a certified energy rater, much like the UK’s Home Condition Reports. The costs of green improvements such as more insulation or double-glazing that improve the score are rolled into the loan. Although mortgage repayments are higher, lower monthly bills mean the home owner qualifies for a larger mortgage. After a year, the government will hand out tax credits for further home energy improvements. Gary Lacey, group product manager at Norwich & Peterbourgh, which offers a green mortgage product to encourage home buyers to purchase more energy-efficient properties, welcomes the US scheme. He says: “The average home releases about six tonnes of carbon dioxide every year. Energy-efficient homes are not only good for the environment but cheaper to run too. By using less energy, everyone can make a contribution to protecting the planet.” However, other lenders remain unconvinced that such products will take off in the UK. Linda Will, managing director of Accord Mortgages, tells Mortgage Strategy: “This product sounds like a good marketing ploy, but it’s unlikely people will select a mortgage or change their lifestyle based on such small incentives. Home Condition Reports will probably be more significant in raising awareness of domestic energy efficiency.”
A new Lawpack book aims to help landlords by providing ready-drafted letters for dealing with common letting situations. Titled Landlords Letters – Plugging the Communication Gap between Landlords and Tenants, it provides guidance on when to use each letter. Low-cost insurance Britishinsurance. com has launched low-cost loan insurance. The firm says it costs under a […]
Indian business services and technology exports are expected to surge by 25% in the next five years.
Money Partners has further increased its intermediary exposure by listing its mortgage product range on Mortgage Brains broker sourcing system.The lender s range of Premier and Origin mortgages – comprising variable, fixed and discount rate options – will feature on Mortgage Brains latest and most comprehensive sourcing system, Broker 6.50, launched in November.Colin Sanders, Money […]
From Richard Griffiths Well done, Baldwin. I refer to the Home of Choice full-page advertisement in last week’s Mortgage Strategy (December 12), which referred to my second article concerning Keith Baldwin’s operation. I had wondered if there would be a response, which must have been tempting. The advertisement was a class act. Well done.
By Fiona Holmes, proposition communications manager When I first took out critical illness cover, I was overwhelmed. It wasn’t just the form filling, it was finding out about the sheer number of illnesses I was covered for. Did it give me peace of mind that I was covered for neuromyelitis optica or systematic lupus erythematosus? […]
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