As a medical professional, securing a mortgage that meets your financial needs while also supporting sustainability is an ideal scenario. With the increasing focus on energy efficiency and environmentally friendly home improvements, Nationwide Building Society offers a Green Further Advance, allowing homeowners to borrow additional funds at a zero interest rate to make eco-friendly upgrades.
What is a Green Further Advance?
A Green Further Advance is a special type of additional borrowing available to existing Nationwide mortgage holders. The funds must be used for eligible home improvements that enhance the property’s energy efficiency, such as:
• Installing solar panels
• Upgrading to an energy-efficient boiler
• Improving insulation (loft, cavity wall, or solid wall)
• Fitting double or triple glazing
• Adding air-source or ground-source heat pumps
Nationwide offers this loan at a discounted interest rate compared to standard further advances, making it an attractive option for those looking to improve their home while saving money in the long run.
Why Doctors Should Consider a Green Further Advance
1. Zero Interest Rates
Nationwide’s Green Further Advance offers a zero interest rate, hugely lower than standard borrowing options, meaning you pay less over time. This is particularly beneficial for doctors who may already have multiple financial commitments, such as student loans or private practice investments.
2. Energy Cost Savings
With the rising cost of energy, making your home more efficient can significantly reduce your utility bills. As a busy doctor, knowing that your home is well-insulated or powered by renewable energy can provide peace of mind and long-term financial savings.
3. Increased Property Value
Energy-efficient homes are becoming more desirable, and investing in green upgrades can boost your property’s value. This is especially useful if you plan to sell or remortgage in the future, as eco-friendly properties often attract higher valuations.
4. Environmental Impact
Medical professionals understand the importance of sustainability in healthcare and beyond. By reducing your home’s carbon footprint, you contribute to a healthier planet, aligning with the growing trend of eco-conscious living.
5. Flexible Borrowing Amounts
Nationwide allows you to borrow between £5,000 and £15,000 through their Green Further Advance. This flexibility means you can choose improvements that best suit your home and budget without overextending financially.
6. Straightforward Application Process
As an existing Nationwide mortgage customer, applying for a Green Further Advance is straightforward. The process is designed to be hassle-free, ensuring busy professionals like doctors can secure funding quickly and efficiently.
How to Apply for a Nationwide Green Further Advance
If you’re considering energy-efficient home improvements, here’s how to get started:
1. Check Your Eligibility – You must have an existing mortgage with Nationwide and meet their lending criteria.
2. Choose Your Green Improvements – Ensure your planned upgrades qualify under Nationwide’s scheme.
3. Apply Online or By Phone – Nationwide offers a streamlined application process for existing customers.
4. Receive Funds & Start Your Project – Once approved, you can begin your home improvements, benefiting from reduced costs and increased energy efficiency.
Final Thoughts
For doctors looking to improve their homes while saving on energy bills and contributing to a greener future, Nationwide’s Green Further Advance is a fantastic option. With 0% interest rates, flexible borrowing amounts, and long-term financial and environmental benefits, it’s an excellent way to enhance your living space sustainably.
If you’re interested in a Green Further Advance, consulting a specialist mortgage adviser who understands the unique financial circumstances of medical professionals can help ensure you get the best deal.
Would you like help finding the right mortgage solution for you? Get in touch with Doctors Mortgages today!
We can help all doctors looking for a mortgage
We are experts in sourcing and arranging mortgages for doctors whatever stage you are at. We have an exceptional reputation for customer service. Deal with us and we’ll guide you through the mortgage application process from start to finish.