Green Mortgages: Assessing the Feasibility of Success in the UK

While green mortgages have been available from specialist providers for over ten years, a renewed emphasis on the environment by the government, coupled with increasing uncertainty over the global climate, has prompted many institutions to review the opportunity for environmentally sound financial products.

Report Highlights
In the UK, demand for 'green' financial products has grown significantly. Recent Investment Management Association (IMA) data shows ethical funds under management in the fourth quarter of 2007 reached £5.9 billion, an increase of 18% over the same period in 2006.

There are but a handful of lenders that offer a green mortgage product. Out of a total of 120 active lenders, only five offer a true green mortgage: a staggeringly small 4% of the market.

Most green mortgage lenders are small building societies. However, in 2007 both Abbey and HBOS stated that they were in the process of launching a green mortgage in 2008, following Gordon Brown's budget speech on lenders' offering home buyers incentives to go green. As of yet, neither institution has launched the green mortgage.
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Overview 1
Catalyst 1
Summary 1
Analysis 2
Banco Sabadell has boosted its Latin American Private Banking business with the acquisition of the Miami office of BBVA 2
Both BBVA and Sabadell can benefit from strong growth in Latin American wealth 2
Brazil's wealthy population is booming, while Argentina's lags 3
Argentina's retail savings and investments market has changed substantially since 2001 4
Several players hit by the credit crisis have looked to sell assets and raise capital from the markets 4
Citigroup's sale of up to $400 billion of non-core assets has seen it linked with a number of deals 5
The auction of RBSI is likely to have a big impact on both the private motor and household insurance markets 6
Appendix 8
Definitions 8
Ask the analyst 8
Datamonitor consulting 8
Disclaimer 8
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Table 1: Amount held in ethical finance, 2006-07 3
Table 2: Selected green mortgage offers in the UK market 6
Table 3: International green mortgage offerings 8
Figure 1: Fund investments are the simplest and most valuable area for financial services companies to launch green propositions 10
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