Green Further Advance
A lower rate when your clients borrow more for energy efficiency improvements.
Better rates for green home improvements
Around 21% * of the UK's total carbon emissions come from our homes, so if we can help people improve their energy efficiency, they’ll save money on their bills and it’s better for our planet.
With our Green Further Advance, your clients will benefit from a lower interest rate if they use at least 50% of their borrowing on improvements designed to make their property more energy efficient.
- Green Further Advance is available for both BTL and residential clients as long as they’re not on an Offset mortgage.
- The maximum loan amount is £25,000 – and our usual further advance LTV limits and criteria apply.
- Your client must use at least half of the loan for energy-efficiency improvements. The rest of the money can be used for other home improvements.
There’s a wide range of efficiency improvements that qualify for Green Further Advance, including insulation, window and door improvements, and heating and energy installations.
*Energy Saving Trust
Here's how it works:
- Check your client’s improvements are on our list of eligible work
- Ask them to get a quote for the work, ideally from a TrustMark Registered Business
- Submit your client’s application in the usual way, sending us the installer’s quote so we can check eligibility.
View Green Further Advance mortgages
More information about Green Further Advance
Eligible customers
Our Green Further Advance is for BTL and residential clients who are existing customers of Coventry Building Society and Godiva Mortgages Limited.
Green Further Advance isn’t available for Offset clients.
- Clients must meet current lending criteria and be eligible to borrow more with a further advance product.
- They must have had their mortgage for at least six months and made six consecutive payments.
There's no product fee to pay
The maximum loan limit is £25,000
At least half of the further advance should be spent on efficiency improvements
However much your client borrows, they must be planning to spend at least 50% of the loan making improvements to their property designed to reduce carbon emissions and make it more energy efficient.
They can use the rest of the loan for any other type of home improvement.
We recommend that your client uses a TrustMark Registered Business
How to apply
