You may have heard about the Green Deal initiative or seen reference to it on your Energy Performance Certificate. Green Deal was a government backed scheme to help fund improvements that would bring about savings to your energy bills. Under the scheme the government would fund loans to help meet the initial cost of the improvements which you would then pay back as part of your future energy bills. The idea was that the repayment costs would be offset by the savings in your bill so you would not have to find the extra money to pay for the improvement. However, the government has stopped funding the Green Deal Finance Company which was set up to lend money to Green Deal providers to fund improvements under the scheme.
The scheme is now operating in a new format and is funding some projects. A full relaunch is expected soon and Green Deal assessments are still available. You can find out about the scheme by visiting the Green Deal Finance Company website.
However, Green Deal finance is not the only way you can fund improvements and other financial packages are available. In addition to normal loans there are specialist financial packages and grants available. Some of these take the form of more traditional loans and mortgages which could still be repaid from savings in the energy bill and may offer lower interest rates. We make no recommendation in relation to any of the financial packages available and advise that you seek your own independent financial advice.
Other providers include:
Major banks and building societies
Ecology Building Society – Sustainable savings and mortgages
Portman Asset Finance – Finance for businesses to install renewable technologies
Carbon Trust Financing – General information, grants and loans
Salix Finance – Funding for the public sector