Homebuyers to get grants for energy efficiency measures
Posted by Tasha Kosviner on 9 January 2014 at 9:10 am
Homebuyers need no longer be put off by draughty homes under government plans to offer one-off grants for energy saving measures.
The proposal, which is yet to be consulted upon, is likely include a £1,000 discount on stamp duty for basic energy efficient measures and up to £4,000 for more complex installations.
The details of the scheme are stil hazy but under the plans made public so far, all home-buyers would be able to apply for the grants, which are equivalent of about half the stamp duty on a typical house.
Qualifying measures are likely to be new boilers or loft insulation with measures such as double glazing or renewable heating installations being possible candidates for the higher levels of grant. Eligibility for the grant is likely to be decided based on an energy performance certificate (EPC) inspection. The EPC measures the actual and potential energy efficiency of a home which must be obtained by anyone selling their home.
The scheme is likely to be available to all people moving house, including those who don’t pay stamp duty, and is expected to help around 60,000 homes a year, for three years.
It is not clear how the scheme would be administered but more details will emerge following the consultation and the scheme is expected to come into effect sometime in spring 2014.
The scheme is part of a raft of energy saving proposals the government has announced . Other measures include support for landlords to improve the energy efficiency of their rental properties and £90 million to be spent over three years on improving the energy efficiency of schools, hospitals and public buildings.
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