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anyone got experience of funding work through Government Greenscheme?

(3 Posts)
mamapants Mon 22-Apr-13 09:48:34

Just that really...

Want to look into funding some of our renovation work and wondering if anyone has done so and whether its straightforward? Good way of doing it or a bit of a con?

We have green ticks for insulation and orange ticks for windows, double glazing, solar panels and wind turbines.

Any info appreciated.

architectming Mon 22-Apr-13 10:29:54

Not done it myself but from what I know is, you have to use an approved assessor to carry out an assessment on your house and approved contractor to do the work.

The outstanding balance of the work will stay with the house, i.e. when you move, the new owner will take on the 'debt'. However, the interest rate for the Green Deal is set just below 7%, you will have to make the choice between getting GD or re-mortgage your house which may have a better rate.

mamapants Mon 22-Apr-13 10:46:46

Oh I was under the impression that it was interest free which was only reason we were considering it really. We have much lower rate on our mortgage.
Was thinking we could fund some boring stuff through green scheme and have more of our budget for the nice stuff.

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