Member Article

Green mortgage launched by NE building society

A North East building society has launched its first ever green mortgage. Universal Building Society has teamed up with CarbonNeutral Newcastle (CNN) on its Climate mortgage which will allow customers to reduce the energy they use in their homes and make a contribution to helping homes in deprived areas. For every customer taking up a Climate mortgage, Universal will provide £50 to CNN for the first five years of the mortgage. This money will be used to contribute in balancing the remaining CO2 emissions from the customer’s home. It will also enable CNN to insulate more homes in deprived areas and reduce further the pollution to the climate. Every Climate mortgage customer will also benefit from a free check-up and personalised report by the Energy Saving Trust to help them cut energy use in their own home.Kevin Robinson, Universal’s Chief Executive, said: “We are the first North East building society to launch a green mortgage of this kind and it is very much in keeping with the Universal’s environmentally friendly principles and values. “Customers who sign up to this mortgage will not only be putting something back into the environment by reducing carbon emissions, they will also be benefiting from a great service and stability from a fixed rate mortgage.“Universal became the first financial organisation in the UK to sign up to a green scheme with CarbonNeutral Newcastle last year. As well as insulating homes, Universal’s money has also gone towards other worthwhile methods of using energy from renewable sources, including planting more trees.

This was posted in Bdaily's Members' News section by Ruth Mitchell .