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Home » Mortgages » Choosing your mortgage » Existing borrowers » Additional borrowing » Flexible Home Energy Efficiency Additional loan
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Flexible 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 a discounted rate with flexibility built-in.

Key features

  • Our lowest additional loan rate
  • Fully flexible
  • 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

Below is a comparison between our Home Energy Efficiency Additional Loan and our Standard Variable Rate additional loan

Feature

Home Energy Efficiency Additional Loan

Standard Variable Rate Additional Loan

Rate

5.40% variable(1.50% less than our SVR) in years 1 to 5, then
6.90% (our SVR) for the remaining term of your additional loan

6.90% variable for the term of your additional loan

The overall cost for comparison is:  6.3% APR 7.2% APR

Term

5 years

The term of your additional loan

Product fees

None

£95

Minimum loan

£1,000*

£2000

Maximum loan to value

up to 90% LTV

Up to 90% LTV

Early repayment charge

None

None

Overpayments

Unlimited

Unlimited

Higher Lending charge

None

None

Offset version available

Yes

Yes

 * Up to a maximum loan of £15,000

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:

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