Loan News Yorkshire Building Society Launches Home Energy Efficiency Loan
19 April 2007
The Yorkshire Building Society is due to launch its first Home Energy Efficiency improvements loan today.
The loan, which is for existing customers only, will focus on energy efficiency as a way of saving money and act as a forerunner to energy efficiency mortgages.
Customers will be able to take out the loan, available at 5.65% for 5 years (a discount of 1.5% from Yorkshires’ SVR) to use for improving their homes’ energy efficiency.
Rob Prior, Product Manager, Mortgages explained, “We are seeing an increased consumer awareness of energy use and its effect on household bills.
The Energy Saving Trust, through the Energy Saving Partnership for Homes, has been very helpful in giving us advice on the type of home improvements our borrowers should focus on.
“This has helped us to understand the impact, in both CO2 and financial terms, of some of the most significant actions consumers can take in their homes,” continued Mr Prior.
“Our first step is introducing an Additional Loan for existing customers which will only be available for approved energy efficiency home improvements.”