Going Green: Borrow £15,000 Interest Free
Nationwide are set to update their Green Additional Borrowing (further advance) range to offer 0% products for existing Nationwide mortgage customers for the first time.
Introducing Nationwide’s Revolutionary 0% Mortgage Products for a Greener Home
At Prospect Tree Mortgages, we strive to keep our clients informed about the latest developments in the mortgage industry. We’re excited to share breaking news from Nationwide, who are launching an innovative 0% mortgage product designed specifically for their existing customers. This groundbreaking initiative aims to make energy-efficient home improvements and a greener lifestyle more accessible and affordable than ever before.
Overcoming the Financial Hurdle: Making Energy-Efficient Home Improvements Affordable
We understand that the upfront cost of home improvements can often be a significant hurdle for homeowners seeking to reduce their carbon footprint and save on energy bills. That’s where Nationwide’s new 0% mortgage products come into play. By offering a zero-interest rate for up to five years, these mortgages provide a unique opportunity for homeowners to invest in energy-efficient upgrades.
Features of Nationwide’s Green Additional Borrowing Products
The Green Additional Borrowing products introduced by Nationwide will include a range of enticing features to support homeowners on their eco-friendly journey. With options for both a 2-year and 5-year fixed term, borrowers have the flexibility to choose what suits them best. Loan sizes ranging from £5,000 to £15,000 ensure that homeowners can undertake significant improvements while keeping costs manageable. Additionally, the products offer a favorable Loan-to-Value (LTV) ratio of up to 90%, enabling borrowers to access a larger portion of their property’s value to fund their green initiatives.
Eligible Projects: Transforming Your Home for a Sustainable Future
To ensure that the funds are utilised exclusively for eco-friendly home improvements, Nationwide requires borrowers to allocate the entire loan amount towards eligible projects. These projects include installing solar panels, air source heat pumps, upgrading windows and boilers, implementing cavity wall and loft insulation, and even installing an electric car charging point. The possibilities for creating a greener and more sustainable home are expansive.
Flexibility and Choice: Working with Contractors and Suppliers
Nationwide’s commitment to flexibility extends to the selection of contractors and suppliers. Borrowers can choose any local or national contractor or supplier to carry out the necessary work, offering them the freedom to collaborate with professionals who align with their vision.
Understanding the Terms: Interest Rates and Reversion to Standard Mortgage Rate
It’s important to note that the 0% interest rate applies only during the initial deal period, whether it’s a two-year or five-year term. Once this period ends, the mortgage will revert to Nationwide’s Standard Mortgage Rate, currently set at 7.74%. Furthermore, it’s essential to highlight that each household is eligible for only one 0% Green Additional Borrowing mortgage, subject to meeting the necessary criteria.
Embrace Sustainability: One 0% Green Additional Borrowing Mortgage per Household
Nationwide’s new 0% mortgage products represent a groundbreaking opportunity for homeowners to invest in energy-efficient home improvements and create a greener living environment. By reducing financial barriers and offering favorable terms, Nationwide is empowering homeowners to make a positive impact on both their energy bills and the environment. As mortgage brokers, we’re excited to support our clients in exploring these innovative mortgage options and embarking on their journey toward a more sustainable future.
Get Started on Your Green Journey: Contact Our Team Today
If you’d like to learn more about Nationwide’s 0% mortgage products and how they can benefit you, please don’t hesitate to get in touch with our team. We’re here to help you navigate the ever-evolving world of mortgages and guide you toward a brighter, greener home.