With landlords facing another year of changes, there's a little good news to start the year.
Currently, landlords are facing funding their own energy efficiency improvements at their tenant’s request if their properties don’t meet the required standards of EPC ratings A
to E, however in April next year these low-rated properties face being pulled from the market, as the law changes and makes it illegal to let low rated properties.
However, there is a small silver lining in this rather grey looking cloud. Landlords who may be
struggling to finance changes to make their property compliant could now benefit from a new round of Green Deal loans.
Original Green Deal finance was pulled in July 2015, however the loans will now be offered after the Government sold the assets of the Green Deal Finance company to renewable
energy investor Greenstone Finance.
The new deals plan to offer more competitive interest rates, and are easier to manage as loans are repaid as part of a customer’s energy bill. This will usually have been reduced
by the energy savings generated from the upgrade that the loan has financed. It is being billed as a “Pay-As-You-Save” scheme.
The loan will remain with the property, and will be paid by the energy bill payer – in this case,
most likely the tenant – so the payments will be made by the person most benefitting from the energy, and cost, saving.
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