Green mortgages 'still a niche'
Published on : 17/01/2008
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Green mortgages are still a niche market, according to the first lender to offer the products in the UK.
Norwich and Peterborough Building Society's spokesperson, Alison Rolls, made the calls after another green mortgage provider - the Ecology Building Society - stated that its own performance suggested interest in the products was growing.
Ms Roll said that the market for green mortgages is "very rate-driven" and is growing a lot slower than any speed which would be beneficial to the environment.
On the attitude of consumers to products, she added: "It would be nice to think that they put the environment more on their shopping list, but at the moment it's a fact that it's all about rates and less about ethics."
The marketing manager of the Ecology Building Society, Jenny Irwin, recently said that it predicted the company's successes in 2007 would continue into this year, although she admitted it was difficult to comment on the market as a whole.
