View more on these topics

N&P grows green grass of home


Green Mortgage &#45 4 Year Fixed Rate Without Incentives

Ethical fixed-rate mortgage

Fixed term:
Four years

Fixed rate:

Minimum loan:

Maximum loan:
Up to 90% of valuation subject to a maximum of £250,000,
up to 85% of valuation subject to no maximum

Income multiples:
Up to four times principal income plus second
or 2.9 times joint

Conditions: Capital repayments of up to 10% allowed without penalty

Flexible features:
Overpayments, underpayments, payment holidays, interest calculated daily

Arrangement fee:

Redemption fee:
4% of mortgage balance in first three years,
3% in year four

Introducer&#39s fee:
0.25% of original loan

Tel: 0845 300 2522

The Norwich & Peterborough four-year fixed rate without incentives is one of two recent additions to the lender&#39s green mortgage range. It is fixed at 5.64% for four years and is available for loans up to 90 per cent of valuation.

Ethical Investors Group mortgage consultant Kevin Brogan points out that his clients ask specifically for ethical mortgages so he considers the Norwich & Peterbourough deal a useful addition to the market. He says: “This product will be very useful as it shows Norwich & Peterborough have thought carefully about the ethical/green market.”

Brogan feels the remuneration is standard and points out that the fixed rate is not the only concern for many of his clients. He says: “Clients are happy to pay a slightly higher rate provided it can reflect their ethical /green issues. Although it takes longer to explain the benefits if the product, this is acceptable.”

Looking at potential competitors Brogan suggests the Co-Operative Bank as it has a definitive ethical policy that clients can see.


Suitability to market: Good
Flexibility: Good
Competitiveness of mortgage rate: Average
Adviser remuneration: Good

Overall 8/10


Clarkson Hill teams up with Mortgage Alliance

The Clarkson Hill Group is teaming up with The Mortgage Alliance to create a new white label mortgage club. Clarkson Hill Gold will be open to Clarkson Hill&#39s 120 mortgage advisers who can access a range of services including a whole of market option of more than 40 lenders from leading firms, conveyancing services and […]

Price slump may bring shock for fixed borrowers

A property slump could cause mortgage repayments to double for some borrowers, warns consultancy In2Perspective. The consultancy points to the many homeowners who took out fixed-rate loans last year when the base rate was 3.5 per cent and who are still benefiting despite base rate rising to 4.75 per cent. It says many of these […]

Gartmore appoints head of pooled products

Gartmore is appointing former JP Morgan Fleming European product development vice president Kevin Scollan as head of pooled products. Scollan will be starting the newly created position on September 6 and will be responsible for enhancement of product strategies within the UK and Europe market place. Gartmore head of commercial development David Middleton says: “Our […]

Nvesta gears up for security

Nvesta has brought out the secure multi-tracker plan, a guaranteed equity bond linked to the performance of three stockmarket indices &#45 the FTSE 100, S&P 500 and Nikkei 225. The bond has a term of six years and provides a full capital guarantee regardless of the performance of the indices. Investors will also receive 110 […]

Frexit & contagion risk in Europe

Rob Burnett, Head of European equities at Neptune Many commentators have suggested that the UK’s exit from the European Union will trigger a domino effect, leading to its eventual break-up. Is this likely and what is the mechanism for this to happen, asks Rob Burnett, Manager of the Neptune European Opportunities Fund. Read more: […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment