Nationwide’s New 0% Borrowing Product For Mortgage Owners Making Green Improvements

Are you a homeowner looking to make green improvements? Well, Nationwide’s new 0% borrowing product could help you do just that. 

With a lot of the UK government's sustainability aims projected to be met within the next 10 years, Nationwide’s 0% Borrowing Plan should help us meet these goals and take the necessary steps needed to save the planet

For example, the UK government is aiming to meet their Net Zero goals by 2050. This involves reducing greenhouse gas emissions by 100% from the 1990 levels by 2050. If these aims are met it means the greenhouse gases produced by the UK would be equal to or less than the emissions removed by the UK government from the environment. 

So how can Nationwide's 0% borrowing product help you and the planet??

What is the Nationwide 0% borrowing grant?

The Nationwide grant is available from June 1st 2023 and will allow up to 5,000 households with a Nationwide mortgage to borrow between £5,000 and £15,000 with up to a maximum of 90% Loan-To-Value across the two to five-year product term2. 

The loan can only be used for non-structural, energy-efficient improvements, like:

• Solar panels

• Heat pumps  

• Window upgrades 

• Boiler upgrades

• Cavity wall insulation

• Electric car charging points 

Those who use the grant can also use any local or national supplier or contract to complete their green improvements. 

Nationwide’s 0% grant aims to combat the barriers in the way of people committing to making green upgrades within their home. Two of the biggest problems when it comes to making green retrofits are the cost and the payback period for the loans taken out.

Henry Jordan, Director of Home at Nationwide Building Society, says: “Residential properties are one of the biggest causes of emissions and there is a need for more to be done by government and business to encourage households to act’. Due to this, it’s important that everyone does their part to help reduce emissions and save our planet, which is why Nationwide’s grant is a great opportunity for those wanting to make sustainable changes. 

How can you benefit from this grant? 

Currently the UK’s 29 million homes produce 16% of the country's emissions, making Nationwide’s commitment to helping 5,000 homes make green improvements a huge step in the right direction. It will also make these solutions more accessible to people across the country, helping to improve people’s quality of life, reduce energy bills and make a difference to the planet. 

For those taking out the new version of the Additional Borrowing Green product their payment would reduce by between £25.50 and £250 per month, meaning you could save £1,530 over the full term of the deal. 

The benefits of going green

Making green improvements can have many benefits such as:

• Reducing the cost of your energy bills

• Using less energy and reducing/removing the need to use electricity

• Heating or lighting your home sustainably 

• Making adjustments to your windows can help keep heat in your home and reduce the energy you waste, helping you spend less on your energy bills

Ultimately, making changes to your home that have positive impacts on the environment can help save your bank account and the planet.

To learn more about how you can save money on your energy bills read our blog.

How can Enula help you go green?

Here at Enula we exist to ensure our planet has a future for everyone and everything on it. That’s why we can help you with green home improvements relating to heat pumps.

We’re also partnered with a range of brands like Samsung, Panasonic, Hair, Swegan and Aerfor that produce great quality heat pumps perfect for your next retrofit project. 
To learn more about how Enula can help you with your green improvements, get in touch with us today!