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Coventry BS launches green further advance deals and home energy efficiency tool

  • 25/05/2023
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Coventry BS launches green further advance deals and home energy efficiency tool
Coventry Building Society has brought out a range of green further advance products, which offer lower rates to people borrowing to make eligible energy efficient home improvements.

The deals are available for residential and buy-to-let customers with fixed rate options of two years and five years.

The maximum loan amount is £25,000 and at least half the loan needs to be used for energy efficient home improvements. The rest can be used for other home improvements.

Highlights include a five-year fixed rate at 3.53 per cent at 75 per cent loan to value (LTV) with no product fee aimed at residential mortgages.

Its no-fee five-year fixed rate at 75 per cent LTV for buy-to-let customers is priced at 3.94 per cent.


New energy efficiency tool

The energy efficiency tool on the website shows people how they can make their house more energy efficient and save money on their energy bills. It has been developed with the Energy Saving Trust.

Customers enter information about their property and the tool will generate an action plan that will show the current and potential EPC rating for the property, estimated energy costs and possible savings, suggested improvements tailored to budget and priorities of the customer and information on the household’s carbon footprint.

The plan can be saved and updated over time by returning to the website and entering a unique code.


‘Small change can make a real difference’

Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “Making energy efficient home improvements is becoming increasingly important to people. The assumption could be that we need to make big changes to our homes, but this initiative will show people how small changes can make a real difference.

“Creating a personalised action plan simplifies the steps people need to take and could go some way to help them save money on their energy bills whilst improving their home’s EPC rating.”

He added: “Homeowners and landlords can both benefit from our green further advance products, with customers able to borrow up to £25,000 to put their plans into action – whether that be as small as draught-proofing windows or a bigger project like installing solar panels.”

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