UK Government Launches ‘Green Deal’ To Help Homeowners Stay Warm For Less

by JacobLittleDigirank on February 28, 2013

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The UK government has recently announced plans to offer long term loans to homeowners in a bid to improve energy efficiency and cut bills.

Known as the ‘Green Deal’, the move will ensure that the UK’s ageing house stock will stay adequate for many years to come, with new insulation, double glazing and heating systems being installed nationwide by approved ‘green deal’ installers and tradesmen.

The Green Deal Finance Company, who are backed by the government, will be providing long term loans to be paid back over a period of 25 years to enable the new improvement works. There will be an annual £20 fee on top of the 6.92% interest rate, however experts believe that the amount of borrowing will be reasonably low to justify the savings the new scheme will bring.

The scheme sounds promising, with Deputy Prime Minister Nick Clegg stating that ‘the Green Deal will help thousands of homes stay warm for less. Those people will benefit from energy saving improvements – and their energy bills will fall.’

Many people have argued however that the deal will not help ‘rocketing fuel poverty’ and doesn’t do enough to address rising fuel costs and availability of energy.

According to Groundwork UK, energy savings could be worth anything from £120 to £300.

About the author

KSLaw are property law experts and planning solicitors in Kent. Contact for a free enquiry regarding property law, planning appeals and permitted development rights.




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