Green mortgage market 'growing'

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The market for green mortgages is growing and looks set to continue being popular through 2008, according to the Ecology Building Society.

Jenny Irwin, who is the building society's marketing manager, pointed out that based on the firm's own performance, the number of homeowners considering more ethical products is rising.

However, she stated that she was unsure about the popularity of the products being offered by mainstream lenders.

"It's difficult to comment on the ethical mortgage market as a whole - Ecology Building Society had a phenomenal year in 2007," she explained.

"It is quite early in the year to predict this, but looking at our business to date, the success we had in 2007 looks like it will continue in 2008."

According to Mortgages.co.uk, green mortgage products aim to reduce the negative impact of deals through making contributions to charities that support the environment.

The website also states that only the Co-operative Bank, Norwich & Peterborough building society and the Ecology Building Society offer ethical mortgage packages.

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