As more people become aware of the Governments initiative to encourage energy efficient home improvements under the Green Deal scheme, we will see property coming to market which has a Green Deal attached.
Things You Need To Know
If you buy a property with a Green Deal you will need to make repayments for the loan through your electricity bill. However, the repayment should be no more than the typical savings expected from reduced energy use. The actual savings will depend on how much energy you use and the future cost of energy.
Occupiers Make Green Deal Repayments
The person responsible for the electricity bill – in most cases the occupier – makes the repayment through the electricity bill. That’s because they can expect to benefit from reduced heating costs.
When the Green Deal was made, the Green Deal Provider based the repayment level on the savings that a typical household is expected to make on energy costs. Of course, the actual savings will in most cases mainly be made on the gas/electricity bill.
When the electricity bill payer for the property changes (for example when the house is sold) the requirements for payment passes over to the new bill payer.
All improvements are made by Installers carrying the Green Deal Approved quality mark. This shows they meet the Green Deal standards and are authorised to operate under the Green Deal.
Who Can You Speak To
If you have questions about improvements, warranties or repayments on a property which you buy or occupy you should contact the Green Deal Provider. Their contact details are on the Energy Performance Certificate(EPC) or the Recommendations Report attached to the EPC.
Switching Energy Providers
You can still change electricity suppliers when you choose. The Green Deal repayments will automatically be charged to your new energy provider.
Thinking About A Move ?
The conditions for selling and buying are good at the moment. Prices remain flat however supply and demand is on the increase. There are more properties on the market and many more buyers making activity strong. If you are thinking about a move, why not ask us for a no obligation Pre Sale Consultation – it’s much more than just a market appraisal.