Mortgages

Home Energy Efficiency Additional Loan

Would you like to do your bit for the environment, while potentially saving some money on your energy bills? If so, the Home Energy Efficiency loan could be right for you.  With this additional loan, you can purchase energy saving measures for your home at our lowest additional loan rate.

Key features

  • Our lowest additional loan rate
  • No product fee
  • Potentially reduce your energy bills
  • Available to existing Yorkshire Building Society mortgage customers making energy efficient home improvements from the list of permitted home improvements (below) only
  • Also available to existing Offset customers

Loan Type

Home Energy Efficiency Additional Loan

Rate

4.99% variable (Bank of England Base Rate + 4.49%) for the remaining term of your additional loan

The overall cost for comparison is: 5.1% APR
Cap and Collar

Capped at 6.99% until 31/05/12.

Collared at 4.49% for the remaining term of your additional loan.

Term

Full

Product fees

None

Loan amount

£1,000 Minimum
£15,000 Maximum

Maximum loan to value

up to 85% LTV

Early repayment charge

1% until 31/05/2012

If the product is repaid in full or in part, or transferred (in full or in part), an early repayment charge is payable as described above. However, overpayments (monthly or lump sum) up to a total of 10% of the outstanding loan per year are allowed without charge. Any amount repaid over the 10% limit will incur a charge of the percentage specified on the excess amount.

Higher Lending charge

None

Offset version available

Yes, please see the additional loan factsheet for further details

Home improvements permitted with this loan

  1. Loft insulation
  2. Cavity wall insulation or solid wall insulation where cavity wall insulation is not appropriate
  3. Draught proofing
  4. Double glazing or upgrade to Energy saving recommended (which score 'C' and above on the British Fenestration Rating Council window energy rating scale). To be installed by a FENSA registered installer.
  5. Installation of condensing boiler and new radiators with heating control systems i.e. timer and thermostatic valves etc.
  6. Floor insulation
  7. Micro-renewable energy i.e. wind turbines, solar panels, solar water heating, ground and air source heat pumps.

We suggest that the improvements described in project 7 are not carried out until the other measures are in place i.e. projects 1-6, to maximise the energy efficiency of your home.

If you plan to undertake an energy efficient home improvement not on this list, please contact us and we may be able to consider it.

Conditions

It is a condition of your Home Energy Efficiency Additional loan that it is only used towards one or more of the list of energy efficiency measures set out above and in the factsheet for the Home Energy Efficiency product. If you do not use the additional loan wholly for this purpose, you will be in breach of the terms and conditions of your additional loan. We reserve the right to request invoices and receipts as evidence that your additional loan has been used in accordance with the purposes of this mortgage product.

 

How to apply:


Call us on 0845 1 200 100*

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Yorkshire Building Society is one of the largest building societies in the UK. We offer a range of financial products and services including: savings & investment accounts, insurance products, loans, mortgages and more.

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Yorkshire Building Society is authorised and regulated by the Financial Services Authority (FSA).