Nationwide has doubled the number of households who can benefit from its 0% green additional borrowing products, as part of its efforts to support energy-efficient homeownership.

The products were launched in June 2023 with the aim of supporting 5,000 households with a Nationwide mortgage to improve the energy efficiency of their homes.

The building society has now committed to doubling that amount, meaning that 10,000 households can now benefit from interest-free loans to fund energy-efficient home improvements.

Since its launch, Nationwide has lent around £60m through its 0% green additional borrowing products. Customers have cited the installation of solar panels and insulation, as well as new windows, as the most popular energy-efficient improvements they intend to make.

It comes as the building society joined the Government’s new Green Home Finance Strategic Partnership. The initiative between the Government and the Green Finance Institute was announced as part of the Warm Homes Plan, and it brings together financial services providers, the energy sector and consumer groups to ensure green home finance is available for the mass market.

Group director of mortgages at Nationwide, Henry Jordan, stated: "We are committed to helping our members improve the energy efficiency of their homes. Extending our 0% green additional borrowing products will help another five thousand households who want to retrofit their home and can afford long-term investment but struggle to meet the upfront costs.

"However, more is needed and collaboration is crucial if we are to decarbonise the UK’s housing stock. We are, therefore, delighted to be part of the Green Home Finance Strategic partnership, which will play a leading role in helping to unlock the changes needed to make our homes resilient for the future."

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