We're here to help, in a way that suits you
Get in touchIf you’re an existing Progressive mortgage customer and you’re making home improvements which will reduce the carbon energy used, our Carbon Reduction Additional Borrowing product may be suitable for you.
Energy that is generated using lower amounts of carbon emissions, such as using wind or solar power, are better for our environment. Making improvements to your property, which reduce the carbon impact, can improve the energy performance of your home and potentially save you money on your home energy bills.
One way to potentially reduce energy bills and usage, is by improving your property’s EPC rating. The EPC rating of your property measures your home energy efficiency, using a colour coded scale usually from A-G, with G being the lowest energy efficiency. Your home is assessed upon heating, lighting and hot water. A more energy efficient home will use less energy, and in turn reduce money spent on heating and electricity. Investing in your home can help you save money during the years that follow.
Use energy efficient lighting
Loft and wall insulation
Install double or triple glazing
Replace your boiler
Install a smart meter
It’s vital to ensure if you are considering making home improvements to improve your property’s EPC that you select a reputable supplier.
To qualify for our Carbon Reduction Additional Borrowing product, the following criteria will apply:
See the product details below, and contact your local Progressive branch today to speak to a qualified mortgage advisor.
Branch Finder
Type of mortgage |
LTV (Loan to Value) |
Product type |
Rate |
APRC |
Fees |
Additional Borrowing |
Up to 85% |
5 year variable discount |
5.79% |
7.55% | £250 |
Based on an assumed start date of 16/10/2023, a mortgage of £30,000.00 payable over 19 years, initially on our discounted variable rate of 5.79% for 5 years, followed by our Standard Variable Rate currently 8.74% for the remaining 14 years, would require 60 monthly payments of £219.06 and 168 monthly payments of £260.37.The total amount payable would be £56,885.76 made up of the loan amount plus interest of £26,635.76 and an Arrangement fee of £250.00.The overall cost for comparison is 7.55% APRC.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
For more information you can call us, email us or pop into one of our 11 branches. We look forward to hearing from you.
We're here to help, in a way that suits you
Get in touch