Nationwide extends 0% Green Additional Borrowing products
Mortgage customers are able to borrow between £5,000 and £20,000, up to a maximum of 90% loan-to-value (LTV), for two or five years.
Nationwide has doubled the number of mortgage customers who can access its 0% Green Additional Borrowing, now supporting 10,000 households with interest-free loans for energy-efficient home improvements.
Mortgage customers are able to borrow between £5,000 and £20,000, up to a maximum of 90% loan-to-value (LTV), for two or five years.
Applications can be made after the first mortgage payment.
Henry Jordan, group director of mortgages at Nationwide, said: “We are committed to helping our members improve the energy efficiency of their homes.
“Extending our zero per cent Green Additional Borrowing products will help another five thousand households who want to retrofit their home and can afford long-term investment but struggle to meet the upfront costs.
“However, more is needed and collaboration is crucial if we are to decarbonise the UK’s housing stock.”
Jordan added: “We are, therefore, delighted to be part of the Green Home Finance Strategic partnership, which will play a leading role in helping to unlock the changes needed to make our homes resilient for the future.”
Mary-Lou Press, president of NAEA Propertymark, said: “Initiatives like this that support retrofitting not only help homeowners reduce their energy bills and carbon emissions, but also play a crucial role in improving the overall sustainability of the UK’s ageing housing stock.
“However, while this pilot is a positive step, broader and more accessible green financing solutions are needed across the market so that more property owners can benefit.
“To truly unlock retrofit opportunities at scale, Governments across the UK, lenders, and the property industry must work together to ensure that support, supply-chain capacity and consumer awareness keep pace with net-zero ambitions.”
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