Qualified advisers answering your
Financial Questions
call 0800 092 1245

Eco-friendly mortgage on the market

Yorkshire Building Society has just launched its Home Energy Efficiency loan, which offers discounts to existing customers who want to 'go green'.Homeowners can borrow between £1,000 and £15,000 to add eco-friendly improvements to their property.As a discount for the environmentally-friendly, Yorkshire is offering a 1.5 per cent cut in its Standard Variable Rate, which means that borrowers will only pay 5.65 per cent over five years.Rob Prior, product manager for mortgages at the building society, said there was an "increased consumer awareness of energy use and its effect on household bills"."Our first step is introducing an additional loan for existing customers which will only be available for approved energy efficiency home improvements," he added.The new eco-loan comes after a 2006 study of Yorkshire's customers showed that 55 per cent of people thought that lenders should assist in funding energy efficient improvements to properties, with 49 per cent suggesting this should be done through a discounted loan.Other lenders may begin to follow suit as the introduction of new home information packs in June means that homes that are proven to be environmentally-friendly are likely to sell better.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details