TSB has launched green additional borrowing products to encourage homeowners to make their properties more environmentally-friendly.
Existing residential and buy to let customers can borrow a minimum of £10,000 up to 85 per cent loan to value (LTV). The money can be used to fund renovations such as loft and wall insulation, solar panel installation and heating upgrades.
A minimum of £1,000 must be spent on green improvements.
If all of the money is used to fund emission reducing improvements, customers will be offered a rate reduction of 0.5 per cent with no product fee. Where the borrowing funds a mixture of ecological and standard improvements, then just the part of the loan used for environmentally friendly changes will benefit from the reduced rate.
Nick Smith, head of mortgages at TSB, said: “We are all conscious of the need to do more to protect the environment and we know that a lot of our customers are also keen to play their part in tackling climate change.
“So we’ve decided to give our mortgage customers a helping hand, by offering them a discount when they borrow to invest in the energy efficiency of their homes.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
