Landlords targeted with new energy efficiency scheme
by Sarah Ashcroft
Landlords could receive funding to make their properties more energy efficient following the launch of a new government scheme.
As part of the move, which was announced this week, some 10,000 of the country's draughtiest homes are set to be fitted with new insulation in a bid to promote greener living and ease utility bills for residents.
Agreed by the Residential Landlords Association and Cornish company Enact Energy, the initiative is looking to target the country's 1.4 million private landlords, who rent out what are believed to be some of the least energy efficient buildings in the UK.
They will be offered a complete upgrade service from initial property assessment through to installation, which is backed by access to grant funding and finance as part of the Green Deal.
Landlords will not be asked to pay an upfront cost for renewable energy technologies, while loans attached to the building for up to 25 years cover the price of installation and are paid back through the tenants' monthly energy bills.
However, until financing through the Green Deal is made available in 2013, landlords have been advised to take advantage of government grants and consider funding any additional financial contributions through energy bill savings or mortgage extensions.
Commenting on the scheme, Alan Ward - chair of the Residential Landlords Association - said: "Green Deal and Energy Company Obligation offers landlords a significant opportunity to improve the energy efficiency and in some cases the appearance of their property, with the added benefit of grant funding and long-term finance."
He added that the scheme is hoping to assist over 10,000 landlords to upgrade their properties over the next five years.
Published on: November 7, 2012
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