subject: Green Deal Finance & Loans for Business and Homeowners [print this page] Green Deal Finance & Loans for Business and Homeowners
The green deal financial scheme will be available in 2012 to provide funding assistance for Britain's home owners and businesses wishing to take advantage of the benefits of improved levels of Loft Insulation and Cavity wall insulation together with better more efficient heating appliances.
Green Deal Finance is in effect a type of loan which is designed to provide funding for energy saving improvements for homes and commercial business owners. The "loan" is attached to the property, rather than the individual property owner. The repayment method is in fact attached to the consumers energy meter. Green Deal Loans are recovered by the energy savings made after the installation of the improvements for insulation and heating.
Green Deal Installers and providers of financial packages to support the installation costs will be accredited through the Government backed scheme, and must be registered a comply with the broad based practices for financial institutions in the UK. In principle, to be a loan provider, the company would already be involved in the money lending business, so, in all likelihood this will appeal to UK high street banks. However, in theory any ethical lender could deliver loans as part of the green deal scheme.
Full details about the scheme will be unveiled when the Energy Bill, which is currently being read in the UK parliament, makes it's transition into legislation.
There are already a number of "green" lenders for financial products and advice in the UK market. These companies can also be expected to deliver packages for homeowners and businesses as well as UK energy utility companies.
The Green Deal is expected to be launched in late 2012.
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