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Eco-mortgage 'will make green houses more affordable'
27/10/10
Edited by Andy Jowett.A new "eco-mortgage" for self-builders will make constructing green houses more accessible and affordable than ever.
This is according to Jaclyn Thorburn of BuildStore, which has launched the loan in partnership with Melton Mowbray Building Society and Ecomerchant.
She said eco-mortgages have been designed with specific criteria for building materials, energy efficiency and renewable power generation that a project must meet in order to qualify.
They will release funds at the start of each construction phase to ensure home owners and their builders can access eco-friendly technologies and supplies.
"This new mortgage encourages people to build greener homes - rewarding them with a lower interest rate - and gives them access to the funds, advice and materials they need," Ms. Thorburn commented.
Eco-mortgages will not, however, be available to single first-time buyers or couples where neither personal has owned a home before.
Furthermore, all applicants will have to be over 30.
