01 July 2024
The Society is pleased to launch a new mortgage product for its existing Members.
The new 0% Energy Efficient Additional Borrowing product will replace the current Carbon Reduction Additional Borrowing product and is for mortgage customers wishing to improve the energy efficiency of their homes.
The product will give existing mortgage holders an opportunity to borrow between £3,000 and £15,000 to make their property more eco-friendly.
It is designed to help homeowners lower their carbon footprint and their energy bills by funding non-structural green improvements, such as installing home insulation, solar panels, window upgrades or boiler upgrades.
How it works:
- The property must be a main residential property and located in Northern Ireland.
- Can borrow between £3k and £15k.
- Up to 90% LTV.
- 0% 2 year fixed rate.
- £250.00 Additional Borrowing Fee.
- The total borrowing must be used to improve the energy efficiency of the home by carrying out at least one acceptable improvement (full list of acceptable improvements available).
- This product does not have an early repayment charge and applies to the additional borrowing amount only.
- Only one application permitted per mortgage.
- Quotes for the works must be submitted with the application.
Please do not hesitate to speak to your BDM should you have any queries.