Friday 23rd March 2007
Homeowners could remortgage to pay for environmentally friendly improvements, according to John Charcol.
The independent mortgage adviser suggested that Britons could remortgage rather than requiring new financial incentives outlined in this weeks Budget.
Ray Boulger, senior technical manager at the firm, recognised chancellor Gordon Browns announcement of new, cheap mortgages for energy efficient home improvements.
However, he said: "I was surprised to note that the chancellor considers there is a need for a new market as outlined."
"A new market is most definitely not needed because there are already plenty of products available that can accommodate what the chancellor is trying to achieve," he added.
Mr Boulger noted that as homeowners wishing to remortgage may be required to take any new borrowing at one time, the current lending situation could lack flexibility.
But he proposed that any home improvements might be expected to take place at once, negating the need for borrowing over a longer term.
John Charcol previously called for Mr Brown to raise the boundaries of stamp duty to increase the affordability of homes for first-time buyers.
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