Nationwide are launching a Green Additional Borrowing (further advance) range on June 1st to offer 0% interest for existing mortgage clients. Read on for more information.
Nationwide are launching a Green Deal Additional Borrowing (further advance) range on June 1st to offer 0% products for existing mortgage clients.
Making the right home improvements could save you money on their energy bills and reduce their carbon footprint. But for many, the initial cost can be a hurdle.
That’s where their new 0% interest mortgage products come in. With no interest to pay for up to five years, this will help make energy efficient home improvements and a greener home more affordable and accessible.
The new Green Additional Borrowing products will offer:
2 and 5 year fixed term options
Loan sizes from £5,000 to £15,000
Up to 90% LTV
The entire loan must be spent on green home improvements, such as:
air source heat pump
cavity wall insulation
an electric car charging point.
There may be exclusions on the use of funds. Members can use any local or national contractor or supplier for the work.
The 0% rate is available for the initial deal period only (two or five years), and will then revert to their Standard Mortgage Rate (currently 7.74%).
Only one 0% Green Additional Borrowing mortgage will be available per household, subject to you meeting eligibility.
So, if you are planning some of the above improvements and are already a Nationwide member/mortgage client, get in touch and we can see if you are eligible for this new scheme. If you are thinking of buying a property that most likely will need these improvements in the next year or so, perhaps Nationwide are a good lender to consider!Go back