Environmentally friendly mortgages are currently flooding the market in all shapes and forms, and the newest offering from Giraffe will certainly be a welcome entrant into the arena for green homeowners.
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Available for Standard, Buy-to-let and Self-Cert, the new mortgages will offset 5.5 tonnes worth of carbon emissions for each year of the promotional period, which is estimated to be the same amount produced by an average household over the course of a year.
All mortgages are on offer on a three-year fixed rate at 95 per cent LTV and a £999 arrangement fee which can be added to the loan amount. The Higher Lending Charge (HLC) will also be paid by Giraffe and multiples of either 4.5 times a sole income or 4 times a joint one are available to borrowers.
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The environmentally friendly side of the mortgage works by retiring carbon credits from the European Union Emissions Trading Scheme (EUETS), an approach which conforms to the UK Governments proposed Code of Best Practice for Carbon Offsetting.
Lisa Taylor, a spokesperson from Moneyfacts commented: Giraffe has already made its mark on the mortgage market over the past year, offering consistently competitive products. The new Carbon Offset mortgage demonstrates Giraffes appetite for innovation. Carbon Offsetting is big news at the moment and it is great to see lenders such as Giraffe taking steps to encourage customers to reduce climate change.
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