Nationwide Building Society has launched a Home Energy Efficiency Tool to help customers make their homes more energy efficient and reduce their energy bills.
The tool provides homeowners with information about the current energy use in their home, offers suggestions on how to reduce their usage and save money on energy bills, and provides recommendations on energy efficiency measures for their property.
Built with support from Energy Saving Trust, the tool will be available to all homeowners, regardless of whether they are a Nationwide customer or not.
The tool outlines the cost, energy or carbon savings that can be made over the long term, and potential home improvements that can be made based on a customer’s individual budget.
The tool will ask homeowners simple questions about their home and energy bills, and use the information provided to generate an energy profile.
This will then provide a view of what actions could be taken to save money and make their home warmer and more comfortable, highlighting the potential costs and impact on the energy efficiency of the property and its Energy Performance Certificate (EPC) rating.
The tool was launched as the society introduced its 0% Green Additional Borrowing products via brokers and Nationwide’s mortgage advisers.
It will enable up to 5,000 households with a Nationwide mortgage to borrow between £5,000 and £15,000 up to a maximum of 90% loan-to-value (LTV) across a 2- or 5-year product term.
Henry Jordan, director of home at Nationwide Building Society, said: “Our research tells us that people want to make green home improvements to lower their energy bills and make their property more energy efficient. But they need support.
“That is why we’re launch launching both this new home energy efficiency tool and our 0% Green Additional Borrowing.”
He added: “With the UK striving to reach Net Zero by 2050, the time to act to make our homes more energy efficient is now.
“We know we have a limited ability to reduce the emissions on the properties we lend on, but we stand ready to support and work with others, in the spirit of mutuality, to help ensure that no household is left behind.
“By providing both the information and the finance, we’re giving our customers every opportunity to take steps to improve the energy efficiency of their homes and make them warmer and more comfortable.”
Nationwide’s 0% Green Additional Borrowing must be used to fund non-structural, energy-efficient home improvements, such as solar panels, air source heat pumps, window upgrades, boiler upgrades, cavity wall insulation, loft insulation or an electric car charging point.
Members can use any local or national contractor or supplier for the work.
Inga Jirgensone, group head of business development at Energy Saving Trust, added: “If we are to reach Net Zero targets, homeowners will need to be supported and encouraged to invest in low carbon home improvements.
“This is a key part of Energy Saving Trust’s mission and we’re pleased to be working with Nationwide to provide a digital energy advice tool for their customers, to help them save energy and money.”
