In episode 84 of the Growth Series podcast, Nicola Alvarez, Senior Manager Proposition Development at Accord Mortgages, is joined by Danny Belton, Head of Lender Relationships at L&G Mortgage Club, and Racheal Hunnisett, Green Mortgage Campaign Lead at the Green Finance Institute, to discuss green mortgages.
The conversation begins with a discussion about what green mortgages actually are, and Danny believes they have evolved into a mechanism to encourage people to reduce the carbon output of their home.
Next, Nicola asks about the future of the green mortgage market, and Racheal praises lenders for starting to innovate in this space adding that she believes they are taking the first step onto a long path.
Nicola then asks how the mortgage market can help to make homes become more energy-efficient, and Danny believes open minds and innovation are needed to incentivise people to make improvements.
The conversation then turns to interest in green mortgages among customers, and Danny states that while most people like the idea of green products, they can be put off by a high price tag, which means it will take time for demand to grow as the market evolves.
Nicola, Danny and Racheal also discuss what opportunities for brokers lie ahead and what the wider mortgage market should do in the coming months.
Racheal believes brokers should normalise conversations about energy-efficiency, and let customers know they can speak to them about issues such as retrofit finance. Danny adds that brokers need to make sure they understand all the lending options that are available, and not just remortgages.
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