Nationwide is doubling the number mortgage customers who will be able to benefit from its interest-free green loans.
The 0% Green Additional Borrowing products were launched in June 2023 to help 5,000 households with a Nationwide mortgage to improve their energy efficiency.
Nationwide is doubling to 10,000.
Nationwide mortgage customers can borrow between £5,000 and £20,000 up to a maximum of 90 per cent Loan-to-Value (LTV) across a two or five-year term.
Customers can apply for the additional borrowing as soon as their first mortgage payment has been taken.
Since the launch, Nationwide has lent £60m to customers, with an average loan size of £13,000.
The installation of solar panels and insulation, as well as new windows, are the most popular energy-efficient improvements customers have used loans for.
The South West has seen the highest take up, 16% of completions, followed by the Outer Metropolitan and Outer South East regions, both at 12%.
According to a recent report by Nationwide and WPI Economics, improving the EPC rating of all residential buildings to band C or higher could bring down total emissions from residential housing in England by up to 47%.
This article is taken from Landlord Today