There has been some significant developments internally for Moneyfacts Analyser, the UK’s leading online residential mortgage analysis system.
The recent update has seen to that both the Residential Mortgage Analyser and Buy-to-Let Mortgage Analyser have been enhanced which now provides a new filter and search functionality to swiftly identify Green Mortgage products.
Darren Cook, head of Analyser Products at Moneyfacts, said: “The UK’s Green Mortgage market is gaining momentum and mortgage providers are continuing to launch new and innovative green products at an ever-increasing rate.
“Green mortgages have now become a significant part of the mainstream mortgage market, with new products regularly appearing with a variety of different green characteristics tailored towards improving the energy efficiency of a homeowner’s property.
He also mentions that the latest update to their Residential and Buy-to-Let Mortgage Analysers is another innovation that combines the ability to perform market-leading detailed searches, state-of-the-art analysis, and expert comparison reporting.
Cook concluded: “We are excited by the release of this latest update, which is aimed at improving our Analyser user experience and supporting providers with unrivalled data coverage and accuracy.”
What gave rise to ‘green mortgages?
The rise in popularity for green mortgages can partially be attributed to the perks available for people whose home conform to high eco standards.
Banks and building societies are now offering loans which offer lower interest rates and various cashback offers to owners of energy-efficient properties.
The reason behind this initiative is to lower the UK’s total emissions that are created by housing and by cutting domestic emissions down could have a significant impact on global warming and the current climate-crisis faced worldwide.
Green mortgages are expected to become more and more commonplace since the government is applying pressure on mortgage companies to increase the proportion of energy-efficient homes they lend on.
Which new products will be on the market?
With mainstream and new lenders entering the Green Mortgages market, the new filter provides product comparison data for:
- 252 Green Residential mortgages
- 302 Green Buy-to-Let mortgages
The state-of-the-art Moneyfacts Analyser system is updated throughout the day which allows banks and building societies to get a clear view of the growing Green Mortgages market to create products and assess competitiveness as well.
Competent Moneyfacts data and analytics experts also constantly monitor the entire market to provide product data for instant analysis on the new system.