SimplyBiz Group welcomes growth of green mortgages market

Jessica Nangle

October 20, 2020

The SimplyBiz Group has welcomed new research from the Intermediary Mortgage Lenders Association (IMLA) which showed that 35% of intermediaries intend to advise on green mortgages in the future.

The survey also revealed that 74% of lenders expect to see this area grow in the future, with 13% already reporting a rise in interest since the onset of the COVID-19 crisis.

In April, Gateway Surveyors, part of the SimplyBiz Group, launched a zero contact valuation proposition with a range of options that not only protected both vendors and surveyors in line with government restrictions, but also reduced the carbon-footprint generated during the traditional valuation process.

Martin Reynolds, chief executive of SimplyBiz Mortgages, said: “The SimplyBiz Group and Gateway Surveyors welcome the results of this research and have been championing the benefits of being environmentally friendly for a while.

“Whilst the growth of the green mortgage is seen as a positive step, it needs to be embraced throughout every element of the property transaction chain in order to result in real change, and this includes increasing the use of virtual valuations.

“Gateway Surveyors launched this concept into the market six months ago and already has several lenders successfully using the process.

“Every valuation carried out virtually means one less car journey.

“Just think what the reduction in our carbon footprint would be for every 50,000 valuations that are undertaken virtually.

“It is evident that the appetite for green mortgages is already strong, and increasing, amongst consumers, and The SimplyBiz Group, via Gateway Surveyors, is proud to be at the forefront of introducing innovative solutions which support the long-term sustainability of both the sector and the planet.”

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