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Green Deal Is A Joke

Green Deal Is A Joke

Bad Business Practices, Long Term Debts, Unqualified assessors – Green Deal getting bad press

The Government heralded the launch of the “Green Deal” in January this year as a groundbreaking flagship initiative that would help struggling families cut energy bills, however, it appears that the general public are 99.9% against the idea.

The intention of the Government was to encourage millions of UK home owners to take out “Green Deal” loans in order to pay for money saving improvements to properties, such as; loft insulation, double glazing, boilers and other energy efficient measures with the aim of cutting a typical family’s energy costs by as much as £50 a month.

The loan would be repaid over an agreed timescale of up to 25 years, but the debt is attached to the property rather than the current owner, which means the debt could be passed on to any new buyer. As a result, property vendors could face demands from prospective buyers to clear any outstanding debt, which could also see them facing a charge or early repayment penalty of up to £6,000 (GBP).

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The UK government have submitted new proposals that recommend Buy To Let landlords and home owners who apply for permission to make repairs and improvements to their properties are encouraged to make additional improvements at the same time as other ongoing works in a bid to make properties greener.

However the proposals fail to fully account for where the UK PRS landlords are expected to find the money for such extra improvements or even if such improvements will prove to be beneficial to tenants.

Conservative MP Tim Yeo said “The new proposals will effectively force landlords to complete non-essential improvements aimed at improving energy efficiency at the same time as they make minor repairs or improvements to their rental properties. If they refuse they could be denied permission to make essential repairs by their local council.”

It is also widely thought that the UK coalition government want to introduce a scheme that means all property repairs, such as the installation of a new boiler or central heating system, are logged with the council.
The council will then ‘recommend’ additional improvements, such as new double glazing or loft insulation that will also need to be carried out in order to get permission for the boiler installation.

The proposed costs of the ‘recommended’ improvements could be offset using the new government Green Deal scheme due to be launched in October 2012.

Mr Yeo commented on the proposals saying; “You’ve got to find ways of making the public more enthusiastic about energy efficiency and I think compelling people who have applied for planning consent to make some alteration to their home isn’t necessarily going to help.”

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