Green deal wall insulation...

stingray_316

Ok so now you know the financial details do you still think it's not worth having done..
Alright the interest is slightly more than the loan, but surely it's still worth having done isn't it..
£5,000 for the exterior walls to be insulated and I have a warmer home and cheaper energy bills which will pay back the cost on the loan in the long run
I've seen it where the cost of exterior walls can cost anything from £7,000 to £15,000 so is this deal that bad...
I know you are giving good advice but isn't there some postive to having this done... I was all for it , now you have gave me doubts..

Smiley_Dan

The comfort and the energy savings are clearly a plus.

But EWI is expensive in the UK. Normally about £100/m² ; does that tally with you? It can vary depending on the property size and complexity. The depth of the insulation does not normally affect that a great deal, so maximise the depth.

Plus there's lots of detailing to get the best out of it. Personally I'd employ an architect with a knowledge of low energy building to spec it out. Things like how the insulation meets the loft insulation (or not, in the case of warm roof), how far down it goes, detailing onto windows. Effect on the air barrier. And so on.

I haven't seen a single mention of what the current heat loss of the property is through the walls. You can only make a financial decision once you realise how much you save.

macman

stingray_316 wrote: »

Ok so now you know the financial details do you still think it's not worth having done..
Alright the interest is slightly more than the loan, but surely it's still worth having done isn't it..
£5,000 for the exterior walls to be insulated and I have a warmer home and cheaper energy bills which will pay back the cost on the loan in the long run
I've seen it where the cost of exterior walls can cost anything from £7,000 to £15,000 so is this deal that bad...
I know you are giving good advice but isn't there some postive to having this done... I was all for it , now you have gave me doubts..

The real cost of the work will be at the going commercial rate, so why do you think you'll get £7-15K of work done for £2,400? This simply doesn't add up.
Even if the work was worthwhile in terms of payback (which it isn't because it will still be owed long after you move out of the property, unless you plan on staying 25 years), the point we are making is that this is a horribly expensive way to finance it. We have already made alternative finance suggestions for you to consider.

stingray_316

We have sent papers back and now have to wait for someone from the company who are doing the work to come out to us to discuss what they do and don't do regarding the walls ..
Have had a quick word with them over the phone and they change the soil stack .. Which is cast at the moment...and take down and refit satalite dish and exterior lights with 25 year guarantee..
Also phoned green deal and we have a 14 day cooling of period as soon as they also signed the contract and contact the installers.
So they said as soon as installing firm know from green deal get them to come out straight away to discuss the work involved for exterior walls as that is when you get the 14 days cooling period .
I'ii see what they say before deciding , also taking all you advice into consideration...

macman

I hope you're not expecting to get the soil stack, sat dish and lights work done as part of the Green Deal loan? None of that would qualify, so if that is to be carried out then you'll need to pay the contractor separately.

stingray_316

macman wrote: »

I hope you're not expecting to get the soil stack, sat dish and lights work done as part of the Green Deal loan? None of that would qualify, so if that is to be carried out then you'll need to pay the contractor separately.

l quote what they told me, the replacement of the soil stack as they they have to bring this out further and satalite dish and lights are in on the price we have been given ...
I'll soon find out anyway.

facade

stingray_316 wrote: »

Have had a quick word with them over the phone and they change the soil stack .. Which is cast at the moment...

And would last 100 years or so with a lick of paint every 25 years, for one made of extremely shortlived plastic........... :eek:

macman

stingray_316 wrote: »

l quote what they told me, the replacement of the soil stack as they they have to bring this out further and satalite dish and lights are in on the price we have been given ...
I'll soon find out anyway.

So all this work is as a consequence of the cladding, which you didn't make clear.

stingray_316

macman wrote: »

So all this work is as a consequence of the cladding, which you didn't make clear.

I don't follow what you mean.
Are you saying it's worth having the work done now for the price I was given..

macman

No, I making the point that it wasn't clear (at least not to me) that the ancillary work was necessary due to the external insulation.
I have already made it clear that I don't think that a 25 year GD loan is a sensible way to finance such a relatively small insulation improvement.
You are paying about 140% of the capital borrowed back in interest over that loan period, and any future purchaser will probably seek a reduction in the sale price to cancel out the repayment cost which they must take on.