Green Deal.

paul2468

Anyone heard of this...someone in work told me if you have an old boiler that the govt will replace it , and you dont need to be on benifits...he said it is called the green deal...:beer:

chris1973

http://www.decc.gov.uk/assets/decc/11/tackling-climate-change/green-deal/6634-the-green-deal-a-new-way-to-pay.pdf

This scheme lets you pay for some or all of
the improvements over time through your
electricity bill. Repayments will be no more
than what a typical household should save
in energy costs.

So not exactly a gift, you pay for any improvements through increases added to your Electricity Bill.

Apparantly, though the repayments will only equal the amount that the improvements save you by lowering your energy use and your bill, so effectively it *should* be free although you won't actually SAVE anything until all of the repayments have been made (which could take upto 25 years) so you'll have a better insulated house, but won't be able to take advantage of the energy savings for some time because the repayments will equal any saving.

http://www.consumerfocus.org.uk/files/2011/03/Green-deal-or-no-deal.pdf
.

Give it a go, it will be interesting to see whether your bills do actually stay the same, once the improvements have been done and the repayments have been added to your Energy bills!.

paul2468

My boiler is 19 years old...so maybe something can be done with that.

chris1973

My boiler is 19 years old...so maybe something can be done with that.

Maybe. Although I highlight once again that it is simply a Government led loan which you pay back over many years via payments added to your Electricity Bill, the Government are simply lending you the money to replace it, they aren't gifting you a new boiler!

Although I wonder what would happen if you moved house during that 25 year payback period?, would you continue to pay back a loan for improvements in a property which you no longer lived in for many years to come, or would the new owners be expected to pick up the tab?

I also imagine that there are lots of hoops to jump through first.

Ken68

Don't touch it Paul, it sounds like something invented by Wonga.Com.

Joyful

The loan stays with the property. If someone moves out be they owner or tenant the next person has the responsibility to take over the loan. It will be interesting to see if any landlords that take part in this explain to tenants.

rogerblack

chris1973 wrote: »

Maybe. Although I highlight once again that it is simply a Government led loan which you pay back over many years via payments added to your Electricity Bill, the Government are simply lending you the money to replace it, they aren't gifting you a new boiler!.

It is a loan, for work done by a select set of approved companies who may charge considerably over market rates to perform that work.

pooch

paul2468 wrote: »

My boiler is 19 years old...so maybe something can be done with that.

Is it broke?

If not, why waste money changing it? :huh:
Think of the ecological effects of throwing away perfectly good boilers and replacing them with new.

sheffield_lad

rogerblack wrote: »

It is a loan, for work done by a select set of approved companies who may charge considerably over market rates to perform that work.

Has Rodger been reading the daily mail? lol

Landlords would be mad not to take up the improvements as the tenant pay for it (provided its tenanted and not left empty for too long. The tenant will know if there is any work done if they look at the EPC. It does not really matter though as the deal only balances out the high costs of an inefficient house.

We have (as a country), no money grants are coming to an end and difficult to treat properties (solid wall, system built), are ignored at the moment but this gives the house holder a way of improving their property. I have not seen what Martin Lewis thinks of this but the golden rule is the max you only pay back is the amount you save.

wakeupalarm

From my understanding what you pay back is what the typical home saves not your individual home.

So a low user would pay back more than what they are saving, and a high user less than what they are saving.

sheffield_lad

wakeupalarm wrote: »

From my understanding what you pay back is what the typical home saves not your individual home.

So a low user would pay back more than what they are saving, and a high user less than what they are saving.

No that is incorrect, the deal is built around an EPC of the property and any measures are tailored to the savings for that house.