India may not need additional borrowing, despite forgoing its revenue due to a cut in petrol & diesel, and relaxations on import duty for certain edible oils, a government source said on the basis of anonymity.
Owners of energy-efficient homes could save hundreds of pounds by opting for a green mortgage – available from a growing number of lenders. Borrowers who plan to improve their home s green credentials may also qualify.
Green mortgages are deals with special rates that are only available on properties with high levels of energy efficiency. They are designed to incentivise people to buy an efficient home or to refurbish a draughty one.
There are now more than 25 green mortgages available – from bigger players including Virgin Money, Barclays and Nationwide, as well as smaller building societies such as Dudley and Saffron.
Eco-nomic: Green mortgages are deals with special rates that are only available on properties with high levels of energy efficiency
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Green Additional Borrowing : TSB debuts new green mortgage offering
Jo Carnegie
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Banking giant launches specific new service designed to help homeowners fund green upgrade work
TSB has this week launched a new Green Additional Borrowing mortgage product service, in a move designed to encourage a wider shift towards lower carbon and more energy efficient homes by offering more competitive rates for mortgage holders who undertake green home improvements.
Under the new initiative, existing TSB buy-to-let or residential mortgage customers can borrow £10,000 or more - up to an 85 per cent loan to value ratio - to fund a range of green home improvements including loft and wall insulations, low carbon heating upgrades, and solar panel installations.