When you’re looking at purchasing a property, it’s important not to get swept away with the excitement and let your emotions overlook how energy efficient a home is. It’s an important factor to consider in your property search as a home which lacks in energy efficiency is not only more expensive to run, the cost of upgrading could be considerable, therefore eating into your initial costs. The good news is, you can do your homework before committing to a house purchase by easily looking up the energy efficiency rating and environmental impact of a property via the Energy Performance Certificate, which can be found here:
Help is at hand in the form of a Green Homes Grant.
To assist with making your property more energy efficient, a new government-backed initiative, known as the Green Homes Grant, is being rolled out to household owners at the end of September 2020. If you successfully meet the criteria, a voucher to the maximum value of £5,000 will be provided to cover up to two thirds of the cost of qualifying improvements to your home. However, you may be able to receive a higher level of subsidy if you are a homeowner and either you or a member of your household receives one of the qualifying means-tested benefits, covering 100% of the cost of the improvements.
Vouchers must be used to install at least one primary home insulation or low carbon heating measure, such as cavity wall insulation or double/triple glazing (if upgrading from single glazing). Below is a list of primary and secondary measures covered under the criteria:
Under-floor insulation (solid floor; suspended floor)
Room in roof
Park home insulation
Low carbon heat (where the home is suitably insulated):
Air source heat pump
Ground source heat pump
Biomass pellet boilers
Windows and doors:
Double/triple glazing (where replacing single glazing)
Secondary glazing (in addition to single glazing)
Energy efficient replacement doors
Heating controls and insulation:
Hot water tank thermostats
Hot water tank insulation
Heating Controls (Smart heating controls, zone controls, intelligent delayed start thermostat and thermostatic radiator valves)
By way of example, a homeowner wants to install cavity wall insulation and receives a voucher worth £400 towards the work. They are entitled to receive a maximum of £400 more for secondary measures, such as replacing single glazed windows with double glazed windows.
Whilst not all will qualify, this is certainly something you should factor in when making an offer on your next home, although you should be mindful the voucher needs to be redeemed and works completed by 31st March 2021, which is also the date Stamp Duty becomes payable again. Please note, Landlords cannot apply for the low-income part of the scheme.
You’ll be pleased to hear the application process is really simple. To help you get started, you can check your eligibility and get further information regarding the scheme by clicking on the link below: