The Green Deal
The Government’s Green Deal helps home owners (including landlords) to get ‘energy efficiency’ improvements to their property without having to pay up front for the work carried out. The work is paid for by instalments through your electricity bill, for a period of up to 25 years.
In simple terms anyone applying is granted a Green Deal Loan to pay for the work up front. The loan remains with the property, and repayments are deducted from the energy bill attached to the property until it is repaid in full even if the bill payer moves home.
The Green Deal is designed to ensure that you won’t pay back more than you are saving on your energy bill. This is called theGolden Rule. However, this is not a guarantee. The actual level of your savings will depend on how much energy you use to heat your property and the future cost of energy.
Improve Before You Move?
Making energy saving improvements to your home before selling could make the property more attractive to potential home buyers – in fact some of the qualifying improvements such as double glazing or gas boilers could even add value to your property helping you to secure a better price.