Co-op to add eco-features to mortgage portfolio

The Co-operative Bank say it is working on new eco-features that will be built into its mortgage portfolio.

The bank has welcomed the chancellors invitation to major banks and lending organisations to seize the opportunities of a new market in green financial products.

The Co-op says it believes eco-home loans will become the norm in the future.

David Anderson, chief executive of The Co-op, says: As the financial institution in the vanguard of green loans we very much agree with Gordon Brown.

“It is widely acknowledged that households are one of the biggest energy users and so anything we can do to help make homes more energy efficient can only help reduce the UKs carbon footprint.

As part of the banks established ethical policy we are committed to tackling climate change and supportive of government efforts to increase awareness of energy efficiency.

We plan to extend our green mortgage proposition, which is currently available on all our products, by developing an innovative solution to reward and encourage homeowners to actively reduce their carbon dioxide emissions.”

We are convinced that green mortgages will be the most common form of home loan in the future and that is why we are working on several features that will make our range even more eco-friendly.

“This together with our other green products, such as our eco motor insurance and our ethically screened fund will directly or in directly help our customers reduce their carbon footprint.”