Loft Conversions with the Green Deal Initiative
You may have heard recently about a government scheme which kicked off in January of this year called the Green Deal Initiative. The idea is to get all homes and places of business up to an energy efficiency of E or higher on the energy efficiency chart.
Losing heating through your roof because of poor or inadequate insulation is the second biggest source of energy wastage according to the government. That’s why, with a Green assessment of your house, you could install new technologies and refurbishment techniques without paying a penny.
If you’ve been thinking about getting a loft conversion to utilise the space in your home then you could be entitled to have some, or all, of the work paid for by the Green Deal. So if you’ve been put off by high prices in the past, now could be the perfect time to rekindle those dream ideas of an extra bedroom, bathroom, office space or a recreational area.
One thing the Government is keen to stress is that the savings you would make on your energy bills must be equal to, or greater than, the cost of the work done to your property – the Golden Rule. That’s where the assessors comes in; they will go over the details of your property and how much you currently spend in fine detail using a specific survey to ensure the deal would benefit you.
No one knows for sure how much you could save or even if you qualify but the Government estimates there are around 26 million homes that would benefit, so be sure you don’t miss out. There are a range of improvements you can make and they don’t stop at loft insulation; they also include solid wall insulation, double glazing and even solar panels.
On paper it may look like a loan; however, you only pay back the money via your new bills once the work is done, and your bills won’t have increased – in fact you may well see them come down dramatically. The cost of the Green Deal on energy bills will stay with the property even if you choose to move, and the new owners will continue the payments and reap the benefits of even lower bills once the money is paid back.
Around £10,000 per home has been earmarked, and if you’re a landlord or tenant you needn’t worry as the scheme is open to anyone – even those living in council-owned housing. Funded in part by the taxpayer and in part by the private sector, the aim is to reduce carbon emissions by 80% by 2050 in comparison with the figures from 1990. If successful it could see the entire property stock in Britain brought up to standard.
Now you can achieve the loft conversion you’ve been considering by getting funding help from the Government – with the added bonus of lower energy bills and a more energy efficient house. If you want to know more about how the Green Deal Initiative can benefit your upcoming project or you just want more details then contact us at NK Lofts today and we’ll help you take a step in the right direction.