Green is the new black for lenders

mform.co.uk's 'Green Leaf' scheme has identified around 39 mortgage firms – equivalent to around 48 per cent of the market - who have demonstrated a commitment to the environment.

Lenders who have qualified to be part of the scheme include major lenders such as Alliance & Leicester, Lloyds TSB and Halifax as well as smaller societies such as the Norwich & Peterborough, Furness, Newbury and Barnsley building societies.

“Environmental awareness is moving mainstream as companies realise that good environmental practice is also good business, and the mortgage market is moving with it," said mform.co.uk's chief exec, Eamonn Rice.

mform.co.uk ranked companies based on information published in their most recent annual reports which demonstrated whether or not they have a strategy for managing environmental risk and improving environmental performance.

This included a commitment to reducing or eliminating their carbon footprint.

mform.co.uk will continue to monitor lenders for their environmental commitment and will award further ‘Green Leafs’ depending on progress.

The online mortgage company also monitors service levels and competitiveness based on how often lenders feature in top 10 best buy lists based on the true cost of a loan.