New 0% interest loan from Nationwide encourages low-carbon homes

With 29 million homes producing no less than 16 percent of UK emissions, Nationwide is offering an innovative 0% interest loan for green home improvements.

The new Green Additional Borrowing will be available from Thursday 1st June and will support up to 5,000 Nationwide mortgage holders to decarbonise their homes by lending £5-15.000 to install energy-efficient home improvements, such as solar panels, air source heat pumps, window upgrades, boiler upgrades, cavity wall insulation, loft insulation or an electric car charging point.

This is the first time Nationwide has offered a 0% mortgage product to decarbonise housing and we are looking forward to seeing how popular the loan will be.

Upfront costs are often a deterrent for households wishing to install energy efficient measures, and this additional borrowing at 0% interest acts as a financial incentive for Nationwide mortgage holders. We are hoping that this new product will kickstart the market encouraging other lenders to offer similar zero interest loans to make the energy transition easier for all homeowners.

If you are a Nationwide mortgage holder and would like to apply for additional borrowing for energy-efficient measures, click here.