The Green Deal for landlords

Both social and private landlords can apply for a Green Deal loan to fund energy efficient improvements to their properties.

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Improve your property at no cost to you

The Green Deal is a cost effective way to improve the energy efficiency standards of your property. A number of different improvements can be funded by the scheme – you can find a list here.

 

Is the scheme my responsibility?

Whoever’s responsible for the paying the electricity bill for your property is responsible for paying back the loan, which usually means that this is your tenants’ responsibility. Your tenants shouldn’t have many objections, as the bill savings the improvement generates will be equal to or greater than the repayment amounts. A Green Deal Assessor will need to carry out an assessment of the property with your tenants present to determine which improvements make economic sense.

Either party can apply for the Green Deal Assessment and loan, though both parties must agree on the improvements and the payment amounts before any loan application is made.

The Green Deal loan is attached to the property rather than your tenants, so when they leave the property, they are no longer responsible for paying the repayments. The responsibility passes to your new tenants, or if you have no new tenants, it passes to you. New tenants must be informed of the Green Deal loan before they sign their tenancy agreement.

Properties with prepaid electricity meters can still be improved under the Green Deal. The loan repayments are taken directly from the meter balance rather than through the bill.

 

Social landlords

Social landlords may want to encourage their tenants to take up the Green Deal. If you have multiple properties together, such as a group of flats, it may also be easier and cheaper to have the work done on all the properties at the same time. Social housing providers can also register as Green Deal Providers, Assessors or Installers themselves. By registering as a Provider you can offer your tenants loans for their improvements directly, and you will be able to use your own workmen to install the improvements as long as they meet Green Deal standards. More information is available here.

 

Get help paying for Green Deal measures with the ECO

If your property has hard to treat cavity walls or solid walls, you can get money towards the cost of insulating them through the Energy Company Obligation (ECO). This help means that the insulation cost is cheap enough to you that the Green Deal loan becomes worthwhile, that is, that the bill savings at least match your repayments . This help is available to any homeowner regardless of income level.

 

 

FAQs

What is the Green Deal?
The Energy Bill introduced to Parliament on 8 December 2010 includes provision for the new 'Green Deal', which is intended to revolutionise the energy efficiency of British properties. The Government is establishing a framework to enable private firms to offer consumers energy efficiency improvements to their homes, community spaces and businesses at no upfront cost, and to recoup payments through a charge in instalments on the energy bill.
How much will be made available via Green Deal Finance & Green Deal Grants?
Originally, the government suggested that around £6,500 will be available per home. However, the coalition government have hinted at that figure rising to around £10,000. Nothing is confirmed however, a home will only receive what is needed to sufficiently improve the energy efficiency.
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