Green Additional Borrowing mortgage
Our Green Additional Borrowing mortgage gives you a lower initial interest rate. To qualify, you must spend at least 50% of your new advance on energy efficient home improvements.
Features and benefits
There is a choice of either a 2 or a 5 year fixed rate product at a discounted initial interest rate compared to our standard additional borrowing product range.
There are no product fees with this mortgage.
You can borrow between £5,000 - £25,000, dependent on your individual circumstances.
You can borrow up to 85% Loan to Value.
At the end of the deal period you move to our variable Standard Mortgage Rate (SMR) for the remainder of the mortgage term. Alternatively, you may switch to another Nationwide product, subject to availability and your eligibility at the time. The SMR has no upper limit or cap and is only available to existing members who have reached the end of their deal period.
To apply for a Green Additional Borrowing mortgage:
- You need to be an existing member with a Nationwide mortgage.
- You must spend at least 50% of your additional borrowing on energy efficient home improvements. Such as: air source heat pump, cavity wall insulation, double glazing/replacement windows, electric car charging point, ground source heat pumps, loft insulation, small scale wind turbine, tanks and pipes insulation. Exclusions may apply.
- The mortgage term of the additional borrowing cannot exceed the mortgage term of the existing main mortgage account.
Going green – one home at a time
We think the move to a green society and a greener world should begin at home. And we’re doing our bit to help. Discover Nationwide’s commitment to going green, and how it could help you.