Green Mortgages: The “Lenders” project brings together the Energy Saving Trust, BRE, the Nationwide Building Society and other big names from the building and finance sectors. Their aim is to prove that if the energy expenditure of a home can be more accurately estimated, then a borrower's ability to afford their mortgage repayments can be more carefully assessed. Buying low-energy homes could mean you will get a bigger mortgage: The idea of the “lenders” project is simple. By replacing broad estimating of energy costs with more accurate ones, banks and building societies can more accurately determine the amount of mortgage a borrower is able to afford. Since more energy-efficient homes have lower bills, customers in low energy houses ought to be able to afford larger mortgage repayments. There are lots of interesting ideas around at the moment. A study in the US suggested that low-energy homes have a lower risk of default. There's also been the suggestion that estate agents and surveyors should be valuing energy-efficient homes more highly. The lenders project is setting out to prove that mortgage lending can be done with more accuracy. Calculations are currently taking a very broad guess at energy costs, but it shouldn't and doesn't have to be this way.” As a mortgage customer, the idea of the project is that if you buy a low energy home, you are likely to be offered a larger maximum mortgage. The project also has ideas around encouraging mortgage products aimed at buying high-energy homes and then improving them. There has never been a better time to improve your homes energy efficiency so find out what you could be entitled to. It’s so simple to find out if you qualify for a grant or even free installation, just click the “see if I qualify” or “apply now”.
Government Consultation Paper, ECO: Help to Heat The Department of Energy and Climate Change (DECC) have released a consultation document outlining how it see the future of energy efficiency grant funding (see link below) The suggestion is that the current grants that are available to everyone for low cost/free insulation to everyone regardless of income, will continue until 2017. These grants will still be available but at a reduced rate until 2018 when they may well cease. Heating (free boilers) and insulation grants for those described as in ‘fuel poverty’ will continue until 2022. This consultation is ongoing until 17th August 2016, but the message is clear. If you are considering applying for a grant then you should do so sooner rather than later or you could miss out. https://www.gov.uk/government/consultations/energy-company-obligation-eco-help-to-heat
Protect your property value after Brexit The Brexit vote result came as a shock to many home owners, the question is will property hold its value. The answer is unlikely to be obvious in the coming months as uncertainty is sure to grip the nation. One thing you can do as a homeowner to protect your properties value is to ensure it’s well insulated and energy efficient. Research has revealed that the vast majority of property buyers are willing to pay more for an eco-friendly home. The findings challenge the long held belief that consumer demand for greener living is limited. According to recent research 72% of prospective purchasers want to buy the most environmentally friendly house they can. Energy saving is now very high on the list of priorities for most prospective buyers as they see an environmentally efficient home a good way of saving on energy costs. In these times of uncertainty it is vital to ensure you protect your assets, upgrading your home to be energy efficient doesn’t have to cost a lot of money. The Government and energy companies have many schemes available to the majority of households to upgrade energy saving measures. Check out below what you are entitled to, some can be installed free of charge if you are receiving certain benefits. Can we help? It’s very easy to find out if you qualify for a grant or indeed free installation, just select your requirement and click the “see if I qualify” or “apply now”. Acting now could save you thousands in the future and at the same time increase the value of your home.
The Brexit Effect - None as yet, but get in quick... Has last weeks vote for the UK to leave the EU had any impact upon the availability of grants for energy efficiency measures? None so far. There is still funding for cavity wall insulation, loft insulation, boiler replacement and many other energy efficiency incentives. As with many other matters concerning the economy though, there is uncertainty as to what the future will hold with respect to these grants. The advice to all householders who are seeking funding/grants for any of the currently available schemes is to apply as soon as possible. If you apply soon then you are more likely not to miss out should there be a change of policy at a later date. With the current confusion across the entire political spectrum it is impossible to predict what will happen and as with many other things there are conflicting rumours as to what any changes may encompass. Applying now will dramatically increase your chances of getting one of the grants as they stand now. There are currently grants for 100% Free Cavity Wall Insulation, Loft Insulation and boiler replacement, grants for External Wall/Solid Wall Insulation as well as Renewable Heat Incentive payments for measures such ass heat pumps, biomass heating, solar water heating and solar PV.
Are you a qualifier? There are many grants amounting to millions of pounds each year that go unclaimed due to homeowners not being aware of what is available. The majority of the unclaimed benefits are for the elderly, disabled or those on lower level incomes. Are you one of the thousands of people in the UK not claiming your entitlement to make your home more energy efficient? In this day and age families just simply cannot afford to waste money and one very simple way to do this is take advantage of what energy savings are on offer. The savings a household can make are significant if the home is properly insulated and has a boiler running efficiently. On average the savings can amount to as much as £750 per year, so ask yourselves can you afford not to look into this? Most major energy supplier’s offer grants to help you implement energy saving measures within your home, these can easily be found just check below. A recent survey showed that the average household with 2 children spent in excess of £116 per month on electricity alone. It really does make sense to check out if you qualify or can benefit from any grants available, just follow the instructions below and you may have a very pleasant surprise. Need some help? It is easy to find out if you qualify for a grant or even free installation select your requirement and just click the “see if I qualify” or “apply now”. This action could save you a great deal of money over the long term.