The audience responses highlighted a drive from people to improve energy efficiency, with 46% seeking to carry out improvements in the next three years to make their home more sustainable
94% of brokers are yet to ‘sell’ a green mortgage product, despite 39% of lenders suggesting that they will have a green mortgage offering in place by the end of 2021, according to research from Countrywide Surveying Services.
These responses emerged at Countrywide Surveying Services’ regular webinar series with this particular session focusing on a panel discussion around the question – Green Mortgages: Are these the carrot or stick needed to improve overall ESG in the UK housing market?
The audience responses highlighted a real drive from people to improve energy efficiency, with 46% personally seeking to carry out improvements in the next three years to make their home more sustainable.
CSS also asked the audience how they thought the majority of home improvements will be funded to make existing housing stock more sustainable. The majority of respondents’ highlighted government funding as being a key source (53%) followed by mortgage or second charge lending finance (24%).
Matthew Cumber, managing director of Countrywide Surveying Services, said: As always, the outcome of these polls present some interesting insights from a broad range of people across the property and mortgage marketplace and produce responses to reflect on.
He said: It’s fair to say that a multitude of drivers currently exist for lenders to enter the green mortgage market but this still represents a small piece of the jigsaw and it’s up to us, as an industry, to help a range of potential buyers and homeowners to better understand the energy performance of their homes. In addition, we also need to support intermediaries in recognising the opportunities and potential green mortgage benefits on offer for them and their clients now, and in the future.