The overwhelming majority of mortgage brokers have indicated that they anticipate rising demand for green mortgage loans during 2022, with most getting higher numbers of enquiries about them.
Leeds Building Society (BS) spoke to 69 brokers who are members of its panel for this survey, and 93% stated that they are anticipating an increase in customer demand for this sort of mortgage. The survey also revealed that four out of every five mortgage advisors had experienced rises in the number of customer enquiries concerning green mortgages during the final three months of 2021.
A total of 57% told the Leeds BS survey that the number of clients who had asked about green mortgages had risen by a significant degree during this three-month period compared with the same period in 2020.
The survey also discovered that 43% of mortgage brokers felt that customers would favour a green mortgage instead of a more traditional one, even if the latter cost them less to pay back.
Leeds BS director of products Matt Bartle told Mortgage Solutions that the recent COP26 environmental summit appeared to have increased customer awareness. He then went on to say that:
“What we’re starting to see is a groundswell of opinion from more people who are recognising that change needs to happen and seeking products to help them reach their goals.”
As new mortgage advisors enter the market after getting their CeMAP qualifications, it is clear that green mortgages are an area of it that they will likely need to concentrate more of their energies on.