Co-op offers mortgages for 60,000 wooden flats

The Co-operative Bank is partnering with new eco-friendly housing developer Living Space 21 in a bid to boost its “green” credentials and commitment to first-time buyers.

It will work with the developer to offer new-build studio apartments for £59,950 excluding land. The homes will be constructed from timber frames sourced from sustainable forests. They will have rainwater capture and recycling and sloped roofs to maximise solar efficiency.

Co-operative Bank head of campaign delivery Paul Hemingway says: “We are providing a modern housing option which is not only affordable to all but also causes minimal impact to the surrounding environment.”

The bank is expected to launch a campaign to support the “sponsorship” initiative. It says the deal fits with its product range, such as mortgages aimed at first-time buyers, which incorporate green features such as an annual donation to Climate Care and a free home energy report.

This year also marks the 15th anniversary of the bank’s ethical policy.

Last month its parent organisation, Co-operative Financial Services, axed marketing director David Newman and commercial chief Craig Shannon, as exclusively revealed on marketing Their roles were cut as part of a clear-out of 17 senior managers amid a restructure that is expected to lead to 1,000 job cuts – about 10% of the workforce – among back-office staff.

Latest from Marketing Week


Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now


Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.


From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.


Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3703 or email

If you are looking for our Jobs site, please click here