Green mortgages – a mystery
A recent survey1 has revealed that four out of five (83%) people have no understanding of green mortgages. Each lender’s criteria will differ, but typically they may offer a discounted rate, or cashback, if a property has an Energy Performance Certificate (EPC) rating of A or B. The government has passed legislation requiring the UK to be a net zero emitter by 2050 and as housing currently makes up 20% of emissions and around two thirds of owner-occupied homes have an EPC rating below C, it is a significant area that needs improvement.
Rise of the accidental landlord
Recent uncertainty in the property market has seen many London homeowners become ‘accidental’ landlords as vendors decide to move their properties to the rental market, either after failing to sell or deciding they want to hold out for a better price. One estate agent2 has reported that there are around 35% more rental properties on the market compared to the same time last year.
As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments