View more on these topics

Green light for carbon-neutral schemes from HBOS and L&C

The mortgage industry is stepping up its campaign to become more environmentally friendly, with HBOS and broker London & Country unveiling new initiatives.

HBOS plans to become carbon-neutral by the end of the year while L&C pledges to plant 50 trees for every new mortgage taken out by its clients in 2007.

HBOS says it has reduced CO2 emissions by nearly two-thirds since 2004. It plans to cut the firm’s rate of business travel growth by half and offset its projected 2007 UK emissions by funding carbon-reduction schemes.

It will launch a green mortgage in the second half of next year where it will help borrowers reduce or offset the impact of their home on climate change.

Group communications manager Shane O’Riordain says: “The initiatives we are announcing today mean the group will become carbon-neutral before the end of the year.”

L&C estimates it will plant 1.5 million trees around the world. Mortgage specialist James Cotton says: “A lot of consumers are interested in green mortgages but there is confusion about what they are and many are not willing to pay the extra price. By getting advice from L&C, borrowers can go carbon-neutral in the first year of their mortgage without compromising on the value of the deal.”

Recommended

UnumProvident rebrands as Unum

UnumProvident is to shorten its name to Unum and introduce a new corporate identity from today.The move follows the decision of its US parent UnumProvident Corporation to change its corporate identity to Unum Group.The roll out of the new corporate identity will be complete by the end of the year.

The review from here

In the second of two articles on regulation, Harry Katz of Norwest Consultants, turns his attention to the FSA’s retail distribution review.

PSigma fund shines in dull Isa season

Bill Mott’s new PSigma income fund was one of the big winners in what has been a broadly disappointing Isa season.Mott’s fund attracted 108m in its limited offer period, making it the most successful fund launch this year. Many advisers have reported Isa sales broadly flat on last year, with Chelsea Financial Services marginally below […]

Brown claims move was the right decision

Chancellor Gordon Brown claims that changing the pension tax rules was the right decision in terms of long-term investment in the economy.On the campaign trail in Scotland ahead of next month’s elections, Brown said his 1997 Budget move to scrap advance corporation tax relief on pension scheme dividends was “the right decision for investment and […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment