By: Sarah Williams

Here at Blossomfield, we're always excited to share new developments in the industry. Today, we have some fantastic news to announce from Nationwide: they're launching a new 0% Green Additional Borrowing product, available to existing Nationwide mortgage members from 1 June.

We understand that making energy-efficient home improvements can be a challenge, especially when faced with high upfront costs. That's where the new 0% Green Additional Borrowing product comes in. With no interest to pay for up to five years, it will make home improvements and a greener home more affordable and accessible.

This product is a great option for those looking to save money on their energy bills while reducing their carbon footprint. The loan must be spent on green 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. Members can use any local or national contractor or supplier for the work.

The new Green Additional Borrowing products offer a choice between 2 and 5-year fixed term options, with loan sizes ranging from £5,000 to £15,000 and up to 90% LTV. However, there may be exclusions on the use of funds.

It's worth noting that the 0% rate is only available for the initial deal period of two or five years, after which it will revert to Nationwide's Standard Mortgage Rate, which is currently 7.74%. Additionally, only one 0% Green Additional Borrowing mortgage will be available per household, subject to eligibility.

We're thrilled to see this innovative solution from Nationwide and are happy to help our customers take advantage of this new opportunity.

Overall, we believe this is an excellent opportunity for homeowners to invest in energy-efficient upgrades to their homes, which can help reduce energy bills and make a positive impact on the environment. At Blossomfield Mortgages, we're always looking for new ways to help our customers achieve their homeownership goals, and this new product from Nationwide is certainly a step in the right direction.