25 Feb

Mortgage incentives 'could be used to make homes greener'

Mortgage incentives 'could be used to make homes greener'

Incentives based on mortgage products could be used as a means of making the UK's housing supply more eco-friendly, it has been suggested.

According to Andrew Leech, director at the National Home Improvement Council, future property buyers should have to pledge to improve the energy efficiency of certain homes in order to secure loans.

He said: "You possibly won't get a mortgage unless you are planning to increase the efficiency of the house by [around] another 50 per cent."

This would encourage owners of dwellings with poor efficiency ratings to improve this aspect before homes are put up for sale because potential buyers may not be able to secure the necessary finance otherwise.

His comments follow the release of new figures from the government showing that home energy efficiency has increased in recent years, with the average standard assessment procedure rating rising from 42 in 1996 to 51 in 2008.
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