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What it offers

• Choose from a 2 or 5 year fixed rate mortgage. 
• Get 0% fixed interest for the first 2 or 5 years. 
• Borrow £5,000 to £20,000, depending on your circumstances. 
• Borrow up to 90% of the property value (LTV). 
• There are no product fees with this mortgage.

Eligibility 

• You need to be an existing member with a Nationwide mortgage that has had at least 1 monthly payment made on it. 
• Your existing mortgage, combined with the additional borrowing, is not more than 90% of the value of your home. 
• The mortgage term of the additional borrowing cannot exceed the mortgage term of the existing main mortgage account. 
• Spend 100% of your additional borrowing on eligible energy-efficient home improvements.

How to access – find out more on the Nationwide website.

Santander is offering advice to homeowners to make their homes more energy efficient, including an EPC Plus, which is similar to a retrofit assessment as part of a mortgage application. And, they provide a £500 cashback for those that take the service up.

They also work with trusted energy companies and installers to help homeowners install solar and heat pumps.

And, lastly, they are providing loans for energy efficiency upgrades. 

• If you are a Santander mortgage holder you can apply for a loan of a minimum of £5,000, secured against your home.
• Or, a 6.2% APR representative on loans from £7,500 to £25,000, not held against you home. Credit subject to status.

To find out more about their greener homes programmes – visit their website.

Some contractors and energy companies are seeking ways to support home owners access solar or heat pumps. 

When looking at contractor led financing (either as 0% financing or a community energy initiative), it is important to do your due diligence and ask around about people’s experience of working with them. It is worth taking the time to sift through Check-A-Trade, Reddit threads and Google reviews. As well as knocking on neighbour’s doors to find out how they got their solar. 

Energy companies are using two models to incentivise the installation of solar for existing customers: 

• 0% financing with monthly payment schedules. Companies like Octopus and E.On are doing this. 
• Special tarrif reductions (in addition to the Smart Export Guarantee) when going through an identified contractor.  For example, British Gas is offering a short term 25% tariff reduction.

Equity release allows homeowners aged 55 or older to free up some equity locked in the value of their home. Equity is the difference between your property’s value and any outstanding loans (such as a mortgage) secured against it. Any lifetime mortgage can be paid lump sum or in drawdown stages.

Like all financial services and home upgrade services, it is very important to do your due diligence and seek council.

We have previously supported The London Rebuilding Society, who are a charitable organisation that work across London and are commited to ensuring that people over 55 can live in healthy homes for healthy lives.