Giraffe introduces carbon offset mortgages

Giraffe is delighted to announce the launch of its new Carbon Offset mortgages.

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Carbon Offset mortgages are a great deal for customers and the planet.

Available for Standard, Buy to Let and Self Cert these products offer the leading rates customers have come to expect from Giraffe.

The mortgages offset 5.5 tonnes worth of carbon emissions for each year of the promotional period. This is estimated to be the amount of carbon emissions produced by an average house per year.*

The headline product for launch is a -

  • Standard mortgage,
  • 5.59% fixed for 3 years until 31/05/2010,
  • SVR, currently 7.34% for the rest of the mortgage period,
  • APR 7.3%,
  • 95% LTV,
  • £999 arrangement fee (can be added to the loan),
  • HLC paid by Giraffe,
  • ERC 3% until 31/05/2010, and
  • Customers can borrow up to 4.5 x sole income or 4 x joint.


The Buy to Let rate is 5.94% and Self Cert is 6.09%, both are fixed for three years. All usual criteria apply.

Carbon Offsetting aims to reduce current and future green house gas emissions, which cause climate change. The Giraffe Carbon Offset mortgage works by retiring carbon credits from the European Union Emissions Trading Scheme (EUETS). This approach conforms to the UK Government's proposed Code of Best Practice for Carbon Offsetting.

Alison Pallett, Head of Consumer Lending, Bank of Ireland UKFS, today said: "With Giraffe we are always looking for innovative products and ways to meet our customer's needs. We have launched the Carbon Offset range today to help our customers who want to do something for the environment, without compromising on rate. As you'd expect with Giraffe, these are great products with the added benefit of offsetting carbon emissions, so it's a definite win-win situation for our customers and the environment."

Lisa Taylor, from Moneyfacts also commented on the new Giraffe Carbon Offset range: "Giraffe has already made its mark on the mortgage market over the past year, offering consistently competitive products. The new Carbon Offset mortgage demonstrates Giraffe's appetite for innovation. Carbon Offsetting is big news at the moment and it is great to see lenders such as Giraffe taking steps to encourage customers to reduce climate change."

* Based on research conducted for British Gas by Best Foot forward, February 2006.

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