L&C makes every mortgage a green mortgage

London & Country Mortgages (L&C), no-fee mortgage broker, is pledging to plant fifty trees for every new mortgage taken out by its clients in 2007 – enough to offset a person’s carbon emissions for the year.

This will mean that borrowers can go green with their mortgage whilst ensuring they are getting the best deal for their circumstances.

The program should result in the planting of 1.5million trees in carefully selected sites around the world and will build on L&C’s involvement in environment projects over the past six years.

In his recent budget speech, Chancellor Gordon Brown announced intentions to create a market for green financial products with a view to making our homes more efficient. Some lenders such as Halifax have since announced plans to launch ‘green’ mortgages, but with no firm dates or details.

‘Green’ mortgages do exist currently, but their numbers are extremely limited which means consumers often have to make a compromise between being green and getting the best mortgage deal.

L&C aims to simplify the process – by seeking whole of market advice on the best mortgage for their needs, borrowers can also offset their carbon emissions. This means they won’t have to pay a higher interest rate in return for helping the environment.

Commenting on the program, James Cotton, Mortgage Specialist at L&C, says, “A lot of consumers are interested in green mortgages, but there is confusion about what they are and many aren’t willing to pay the extra price to get one. By getting advice from L&C, borrowers can go carbon neutral in the first year of their mortgage without having to compromise of the value of their deal.”