Nationwide launches Green Additional Borrowing

Nia Williams

February 7, 2013

Existing Nationwide mortgage customers wanting to fund non-structural energy efficient home improvements from a list of acceptable measures will be able to be able to benefit from a 0.50% rate reduction on the society’s existing 2-year fixed and tracker further advanced rates.

This means that rates, including the discount, will be available from 2.29%.

Customers can borrow between £5,000 and £20,000 up to a maximum LTV of 85%. No product fee is payable but all reservations are subject to a £99 booking fee.

Tracie Pearce, head of group mortgages at Nationwide, said: “Energy bills continue to rise and many customers are looking to make energy efficient home improvements to try to reduce their bills in the longer term.

“Green Additional Borrowing allows existing Nationwide mortgage customers, who are looking to make their home more energy efficient, the chance to borrow at a competitive rate of interest, with rates 0.50% lower than our standard further advance rates.”

The new product will be available to customers from Friday.

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