Money Back On New Windows

Did you know that, here in the United Kingdom, it is now possible to claim money back on the cost of double glazing in many cases?

You may have already heard about  the Green Deal? This provides a means of financing the cost of things like boiler upgrades, solid wall insulation and much more. This includes double glazing, windows and doors.. Finance comes from the projected savings that are made on energy bills. Despite being a little complex, it can actually pay off very well. Taking this a step further, it’s now also possible to claim cash back on certain energy saving home improvement measures. Again – including double glazing.

What Are Green Deal Grants Or Loans?

With energy efficiency, £100’s can be saved every year on electricity and gas bills, and equally important, a home can become a more pleasant place. The big idea is that energy-saving home improvements can be made to a property with the help of the Green Deal, and the money saved from energy bills can be used to pay for it. For instance, money can be borrowed to get double glazed windows installed. Anyone can apply these special grants or “loans,” even if they are not on lower incomes.

Will Monthly Costs Increase?

Many people may be wrongly put off since it can be regarded as a loan. But it is not actually a traditional loan because it’s available to everyone, regardless of credit rating. As long as the energy savings measure meet the required criteria and the monthly repayments are are less than the amount saved on fuel bills meaning that you will actually be in pocket! To give you an example. If you are currently paying £1,200 a year on your gas and electricity, by taking out a number of energy saving measures such as solid wall insulation, a new energy efficient boiler, double glazing etc it may be possible to reduce this annual bill to £1,000. The cost of these measures can be paid for using a Green Deal loan. And the cost of the loan may be £150 leaving you with an improved home that cost you £50 a year less than before. Simply put but you get the idea how it works. There will be a net reduction in expenses and the home will become more efficient.

Unlike normal lenders, the credit eligibility for the Green Deal is not strict and tough. Out of all the people who apply, 80% of them get accepted. This is a much greater approval rate than that of a normal loan. The focus is on the savings made than the credit rating. The money can be paid back by the homeowner over a long period of time. Usually anywhere between 10 and 25 years. And the repayments are made directly by the energy company rather than the homeowners. The repayments are taken from the electricity bills by the energy firm.

What Can The Green Deal Be Used For Other Than Double Glazing?

Residents of the United Kingdom can be borrowed cash for a myriad of energy-efficiency home improvements other than double glazing. A homeowner could be eligible for just double glazing or double glazing combined with these other improvements. The only limit is that the improvements must be useful and save more than they cost. This is so that through Green Deal finance, they should be able to pay for themselves.