The Green Homes Grant Scheme is scheduled to launch in September 2020. Under the scheme the Government will give homeowners in England vouchers towards the cost of certain energy efficient improvements. If you are buying a home with a view to making improvements, then this is definitely worth considering when looking at your budgets.
The aim of this type of scheme is primarily to help homeowners and promote energy efficiency, but this time is also aimed at helping to revive the economy. The scheme has only been announced for properties in England.
What work will be included?
Full details have yet to be announced but it is expected to include:
• Loft Insulation
• Wall Insulation
• Floor Insulation
• Double Glazing may also be included
With predecessor schemes it has been necessary to have a recommendation by an assessor as to the type of work that is needed. We wait to see how this is adapted in light of social distancing rules, or whether this requirement is removed in its entirety.
The practical challenge for suppliers is that this may now delay people placing orders pending the scheme detail being published.
How much is the Grant?
The Grant is expected to pay up to two thirds of the improvement costs up to a maximum of £5,000. This is expected to be available to all households, and those on low incomes are expected to be eligible to claim higher levels of Grants, or fully subsidised work.
Who will be able to claim?
No details yet but as the scheme is partly driven by an economic objective to generate activity it is thought that the Grants will be widely available, particularly those for the basic scheme rather than the means tested Grants. We expect the vouchers to be available via an online application.
If you are in the process of buying a home or are thinking about it, contact Arrow Conveyancing for a free conveyancing quote.
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The information contained in this article does not constitute financial advice or recommendation and should not be considered as such. Arrow conveyancing does not offer financial advice and is not regulated by the Financial Conduct Authority (FCA), the authors of this article are not financial advisors and are therefore not authorised to offer financial advice.