Council of Mortgage Lenders issue Green Deal FAQs

29th May, 2013

The Council of Mortgage Lenders and the Department of Energy and Climate Change have teamed up to produce a Green Deal FAQ fact sheet for lenders.

The fact sheet, which can be found on the CML’s website here covers topics such as the value of Green Deal improved properties, mortgage affordability and mortgage provider interest in properties improved by the Green Deal.

The CML said: “The guidance provides extensive information on a range of issues arising as the property industry interacts with the Green Deal and properties which have been improved by it.”

The CML said that while its members welcomed measures which may reduce energy costs on mortgaged properties they wanted to know when Green Deal finance and improvements had been taken out so they could assess any potential positive or negative impacts on their exposure to risk or on the value of the property.

The CML said it is committed to continue to work with the DECC and property professionals to ensure this guidance remains relevant as the Green Deal marketplace develops over time.

It added: “The FAQs are intended to be a living document and we will keep these under review and expand them over time as the Green Deal develops.”
Mortgage Introducer reported yesterday that brokers had raised concerns over the level of unanswered questions within the lending and broker community surrounding the Green Deal describing the potential lack of understanding as “a perfect storm brewing”.

This article first appeared on www.mortgageintroducer.com 

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