Nationwide is offering mortgage customers interest-free green loans of between £5,000 to £20,000 for two and five-year terms.
The money needs to be used for energy-efficiency improvements: boiler upgrades, solar panels, air source heat pumps, cavity wall insulation, double glazing or replacement windows, electric car charging point or loft insulation.
The products are available up to 90% loan-to-value, while the money needs to be used to retrofit homes
Graham Lloyd, Nationwide’s head of strategy and sustainability, said: “As a mutual, we have chosen to make a difference, which is why we’re making it as easy and attractive as possible for our mortgage customers to retrofit their properties.
“But much more needs to be done and we need both the government and businesses to step in and step up to create meaningful progress. This cannot continue to be kicked down the road, as it has been for some years now.”
Nationwide first launched a 0% green product in June 2023, but the society has admitted that takeup has been poor, with just 1900 applications being completed.
To encourage more people to use the loan the society has removed removing a requirement for new customers to wait six months before becoming eligible to apply.
