Ethical

Ethical Mortgage Products

Ethical Mortgage Products - Ethical mortgage products refers to mortgage products that are specifically designed with ethical considerations in mind. There are a range of ethical mortgage products available, and these can vary in terms of additional services that they provide. It may be that an ethical mortgage product is provided by lenders that specialise in ethically correct investments, such as those involving charity organisations. In other cases, ethical mortgage products have specific terms and conditions that make donations to an ethical cause in a manner detailed at the start of the mortgage term. Whether supporting ethical campaigns such as climate change, or other environmental factors; or other causes such as global poverty, ethical mortgage products are especially suited to individuals that wish to make a positive difference to the world through their financial decisions.

While some ethical mortgage products make payments to charitable institutions during the mortgage term on your behalf, this may be compensated for by an increased interest premium. However, this can be offset by using an expert mortgage brokerage service to secure ethical mortgage products at the most cost-effective rate available on the market for your financial situation. This is where we can help.

As a specialist area of the wider mortgage market, ethical mortgage products may be hard to find. We have years experience working with a number of major lenders in the mortgage market and have detailed product and market knowledge. We profile lenders in depth, and provide you with all the relevant information about the ethical mortgage products we recommend, so the ethical credentials of ethical mortgage products are available to you. However, you are looking to make a difference through your mortgage and while maintaining cost-effectiveness, our services can be extremely beneficial in this regard.

If you need any assistance why not speak to one of our Mortgage Advisers by calling 020 77 100 400 or Enquire Online.

Want to help a charitable cause through ethical mortgage products? Call our team to discuss your mortgage options.

Ethical Mortgages

Ethical Mortgages - are few and far between. Ethical mortgage lenders are difficult to find within the mortgage market and ethical mortgage products are scarce. The ethical stance of mortgage lenders and increasingly mortgage brokers is developing and Capital Fortune seek to play an important role in increasing the awareness of both ethical mortgage products and ethical mortgage standards in treating not only the planet, but also treating its own customers fairly.

As ethical issues become a greater priority for people, the small ethical mortgage market has began to expand. The number of people taking out ethical mortgages is increasing.

Ethical Mortgage Lenders 

The main three lenders being The Ecology Building Society, the Co-operative Building Society and Norwich and Peterborough. Their products are available on our online mortgage service. Co-operative Bank introduced a green ethical mortgage to its mortgage product range last year. As you would expect, the stance of ethical mortgage lenders however does vary significantly from light to dark green..

Ecology Building Society 

The Ecology Building Society launched in 1981 and has proudly remained a mutual building society. The savings placed by ethical savers allows it to fund ethical mortgages for environmentally sound or energy efficient projects. It will only offer ethical mortgages on properties with "an ecological payback".

Their ethical mortgage lending is not only based on the individual purchaser’s needs and requirements but more importantly on the environmental benefit the property will generate. Ecology Building Society in the past have been keen to lend on old properties in need of renovation, new homes built with recycled or sustainable materials and energy efficient homes. The bulk of its lending is for the restoration of derelict and run down properties They pride themselves on offering ethical mortgages for restoring disused buildings when there is clear environmental benefits but also on green self build projects whereby the developers have chosen to use tradittional or local materials and techniques.

Ecology when considering an ethical mortgage for a borrower will often go into the financial planning and budgeting aspects with potential borrowers on a one-to-one basis to make sure the project is both ethical and financially sound. They are a small organisations and provide a limited number of ethical mortgages and their hand on approach allows them to minimise the risks of associated with mortgage lending.

Ecology remains one of the few mutual building societies and it’s ethical mortgages have assisted numerous mortgage borrowers to undertake ethically sound projects. As an organization they are committed to not only improving the environment by promoting sustainable housing but also to the promotion of ethically sustainable communities.

The restriction on ethical mortgages for developments which provide ethical benefit to the environment and community is at the heart of its ethos. They will provide ethical mortgages for energy efficient housing, ecological renovation, derelict and dilapidated properties and small-scale ethical and ecological enterprise. The Companies reserves, whilst not in use, are also only invested in ethical companies and these companies have to undergo rigorous ethical checks before they are approved.

Ecology are clear that its borrowers do not have to be 'green' to get an ethical mortgage but many of its borrowers with an ethical mortgage product do have environmental concerns.

To see a list of Ecology mortgage products see Ecology Building Society Mortgages

Norwich & Peterborough 

Norwich & Peterborough’s ethical mortgage is in the form of a carbon neutral mortgage. The building society has agreed to plant eight trees a year over five years for every home bought or re-mortgaged through its ethical mortgage scheme. The logic behind the tree planting being that the trees will absorb the carbon dioxide emissions produced by the mortgaged property, making it carbon neutral and hence ethical.

Importantly, Norwich & Peterborough provide a discount on its standard rate to ethical borrowers who improve the energy efficiency of the property.

They also offer flexible features to its ethical mortgage, allowing borrowers to take advantage of
mortgage underpayments, overpayments and payment holidays.

To see Norwich & Peterborough mortgage products see Norwich and Peterborough Building Society Mortgages.

Co-Operative Bank 

The Co-Operative Bank launched its green, CAT-standard mortgage last year. CAT stands for cost, access and terms and means the mortgage meets a minimum set of criteria defined by the government.

The Co-Op has agreed for each mortgage taken out, it will make an annual payment to Climate Care. Climate Care is an organisation which aims to help combat global warming by reforestation, and other renewable energy and energy efficiency projects. The Co-op’s ethical or eco-mortgage makes the donation in order to offset around 20% of a home's average carbon dioxide emissions . Through the Co-operative Bank’s ethical mortgage, it is clear that new woodlands are being created in Uganda and capital Fortune praise it for its initiatives. The Co-operative Bank’s ethical mortgage lending policy also means that it will not become involved with companies that avoid "repeated damage to the environment".

The Co-op will also avoid any company that as a core activity, relies on: the extraction or production of fossil fuels, the manufacture of unnatural chemicals which may contribute to problems such as ozone depletion, or the unsustainable harvest of natural resources such as timber clearance, which leads to deforestation. Co-op do set themselves high standards and have been deemed by EIRIS as an ethical mortgage lender

Carbon Neutral 

Capital Fortune has some concerns regarding the use of forests to help people become carbon neutral. We share the concerns of EIRIS, the Ethical Information Research Service that carbon offsetting schemes often involve the plantation of trees that store equivalent amounts of carbon as wood. Trees are however, inherently carbon neutral and when they decay or burn the carbon is released again, back into the atmosphere. The science of carbon sequestration is poorly understood and it is broadly accepted that increasing forested land area still has only a limited role to play in combating climate change.

Ethical mortgage lenders are to be congratulated for their ethical stance but we believe they should be aware that new forests can absorb only a finite amount of carbon and can be no substitute for cutting carbon emissions through the reduction of energy used, and the development of renewable and non-polluting energy sources.

If you need any assistance why not speak to one of our Mortgage Advisers by calling 020 3 216 2037 or Enquire Online.

Expat Mortgage UK

Expat Mortgage UK - Expat mortgage UK refers to an expat seeking a mortgage in the UK having recently purchased a residential or buy to let property. In recent years, there has been a seemingly increasing reluctance from many high street banks and building societies nationwide to offer expat mortgage UK deals to individual clients. However, suitable and affordable expat mortgage UK packages are still available for the right clients at many expat mortgage UK lenders.

Private expat mortgage UK lenders can offer tailor made solutions to your borrowing requirements. As well as looking at your specific financial needs and requirements for your expat mortgage UK application, they will look at the taxation, trust, investment and international dimensions to your transaction.

We offer a specialised and customised service to all clients who seek expat mortgage UK guidance. On discussing your individual circumstances, we will be able to assess whether a private expat mortgage UK lender or a mainstream bank or building society will best serve your specific needs. We will process your application accordingly, filling out all the critical paperwork towards completion, all within your required timescales. Our outstanding relationships with senior underwriters at many expat mortgage UK providers increase your chance of success in a complex market, often obtaining the best rates available for you on the market.

Our expat mortgage UK team are experts in providing our clients with the right lender at the right time, but importantly at the right rate.

If you need any assistance why not speak to one of our Mortgage Advisers by calling 020 77 100 400 or Enquire Online.

Call our expat mortgage UK advisory team today. We look forward to taking your call.

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