{"id":1150,"date":"2023-05-19T08:04:29","date_gmt":"2023-05-19T07:04:29","guid":{"rendered":"https:\/\/www.redstarwealth.co.uk\/blog\/?p=1150"},"modified":"2023-05-19T08:04:29","modified_gmt":"2023-05-19T07:04:29","slug":"nationwide-goes-green","status":"publish","type":"post","link":"https:\/\/www.redstarwealth.co.uk\/blog\/nationwide-goes-green\/","title":{"rendered":"Nationwide Goes Green"},"content":{"rendered":"<p style=\"font-weight: 400;\">Nationwide have recently introduced an interest-free loan for homeowners seeking to make green energy improvements to their properties, which will be available from 1<sup>st<\/sup> June.<\/p>\n<h2 style=\"font-weight: 400;\">Nationwide\u2019s Green Additional Borrowing Mortgage<\/h2>\n<p style=\"font-weight: 400;\">With Nationwide\u2019s new product, borrowers will be able to take out loans of \u00a35,000 to \u00a315,000 with a 0% interest rate, fixed for 2 or 5 years. After this time period is up, the interest will rise to Nationwide\u2019s variable standard mortgage rate for the remainder of the mortgage term.<\/p>\n<p style=\"font-weight: 400;\">To qualify, borrowers must be an existing member with Nationwide mortgage and spend at least 50% of the advance on non-structural energy efficient home improvements. The listed examples by Nationwide include:<\/p>\n<ul>\n<li style=\"font-weight: 400;\">Solar panels<\/li>\n<li style=\"font-weight: 400;\">Air source heat pumps<\/li>\n<li style=\"font-weight: 400;\">Cavity wall insulation<\/li>\n<li style=\"font-weight: 400;\">Double glazing\/replacement windows<\/li>\n<li style=\"font-weight: 400;\">Electric car charging point<\/li>\n<li style=\"font-weight: 400;\">Ground source heat pumps<\/li>\n<li style=\"font-weight: 400;\">Loft insulation<\/li>\n<li style=\"font-weight: 400;\">Small scale wind turbine<\/li>\n<\/ul>\n<p style=\"font-weight: 400;\">Borrowers will be able to borrow up to 90% loan-to-value, meaning they will have to fund at least 10% of the improvement costs themselves.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-1158 \" src=\"https:\/\/www.redstarwealth.co.uk\/blog\/wp-content\/uploads\/pexels-singkham-1108572-scaled-e1684412716343-600x312.jpg\" alt=\"\" width=\"540\" height=\"281\" srcset=\"https:\/\/www.redstarwealth.co.uk\/blog\/wp-content\/uploads\/pexels-singkham-1108572-scaled-e1684412716343-600x312.jpg 600w, https:\/\/www.redstarwealth.co.uk\/blog\/wp-content\/uploads\/pexels-singkham-1108572-scaled-e1684412716343-800x415.jpg 800w, https:\/\/www.redstarwealth.co.uk\/blog\/wp-content\/uploads\/pexels-singkham-1108572-scaled-e1684412716343-768x399.jpg 768w, https:\/\/www.redstarwealth.co.uk\/blog\/wp-content\/uploads\/pexels-singkham-1108572-scaled-e1684412716343-1536x797.jpg 1536w, https:\/\/www.redstarwealth.co.uk\/blog\/wp-content\/uploads\/pexels-singkham-1108572-scaled-e1684412716343.jpg 1849w\" sizes=\"(max-width: 540px) 100vw, 540px\" \/><\/p>\n<h2 style=\"font-weight: 400;\">A Step in the Right Direction<\/h2>\n<p style=\"font-weight: 400;\">This move by Nationwide will help to reduce the initial cost burden of green home improvements on the individual, helping to encourage sustainable living practices and energy efficient improvements.<\/p>\n<p style=\"font-weight: 400;\">According to Government research in 2021, around 20% of carbon emissions came from homes. Therefore, focussing on making homes greener is a significant step towards creating a more sustainable future.<\/p>\n<p style=\"font-weight: 400;\">According to the Greener Homes Attitude Tracker, commissioned by NatWest, cost acts as the biggest barrier to sustainable home improvements:<\/p>\n<blockquote>\n<p style=\"font-weight: 400;\"><em>\u201cAccording to the latest data, the cost of the work required was by far the greatest barrier, cited by 71% homeowners not planning sustainable home improvements in the next 10 years\u201d<\/em><\/p>\n<\/blockquote>\n<p style=\"font-weight: 400;\">Even if it saves them money on their energy bills in the long-run, many homeowners simply don\u2019t have the money spare to pay for changes upfront in one lump sum. Therefore, monetary barriers act as a huge barrier to ordinary people \u2018going green\u2019. Nationwide\u2019s new product is a great example of how to help people become more sustainable, as it allows them to make that initial cost.<\/p>\n<h2 style=\"font-weight: 400;\">Nationwide\u2019s Other Green Initiatives<\/h2>\n<p style=\"font-weight: 400;\">This new product is not the only move by Nationwide to go greener. They also have a Green Reward offer where you can get cashback when buying an energy efficient home.<\/p>\n<p style=\"font-weight: 400;\">With this, you can claim \u00a3500 cashback when buying a property with an Energy Performance Certificate score of 92 or above, or \u00a3250 if the property has a score of 86 to 91.<\/p>\n<h3><\/h3>\n<h3 style=\"font-weight: 400;\">Overall, we need to keep pushing towards a more sustainable future, and any and every step that allows us to do that is a cause for celebration.<\/h3>\n","protected":false},"excerpt":{"rendered":"<p>Nationwide have recently introduced an interest-free loan for homeowners seeking to make green energy improvements to their properties, which will be available from 1st June. Nationwide\u2019s Green Additional Borrowing Mortgage With Nationwide\u2019s new product, borrowers will be able to take out loans of \u00a35,000 to \u00a315,000 with a 0% interest rate, fixed for 2 or [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":1154,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false},"categories":[1],"tags":[792,313,191,785,790,791,788,781,784,782,783,789,786,780,787,61,62,63],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nationwide Goes Green - Red Star Wealth<\/title>\n<meta name=\"description\" content=\"Nationwide have introduced an interest-free loan for those seeking to make green energy improvements to their home\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.redstarwealth.co.uk\/blog\/nationwide-goes-green\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nationwide Goes Green - 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