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Carbon trading mortgages becoming more competitive

August 9, 2007 by admin  
Filed under News, News-Mortgages

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According to received wisdom, so-called “ethical mortgages” involving schemes such as carbon trading are generally expensive, with holders paying a premium for their guilty consciences.

However, with the introduction of more competitive rates as the sector gains in maturity, lenders are proving that this is simply not the case.

The Carbon Offset mortgage range from lenders Giraffe is the latest to hit the markets, which features both self-certification and buy to let deals, as well as a three-year discount rate at 5.69 per cent.

Emissions are offset by Giraffe through the Bank of Ireland’s carbon trading scheme at a rate of 5.5 tonnes of credits retired for every year of the promotional period.

The company terms the mortgages, which won an Editor’s Special Award at the most recent Your Money industry awards, “a great deal for yourself and the planet”.

Giraffe also announced today a £1,000 prize to be won by an applicant for either its standard five-year fixed rate 5.88 per cent mortgage or its Carbon Offset deal for this month.

Tags: Planet, guilty consciences, giraffe, carbon, Business Finance, Editor's Special Award, offset, lenders giraffe

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