Home.co.uk
Home.co.uk

News: Greener homes could get mortgage incentives

Energy performance certificates (EPCs) should be linked to incentives such as green mortgages, housing minister Yvette Cooper has announced.

EPCs could also be linked to schemes run by energy companies which give homebuyers cash upfront to make energy saving alterations to their houses.

Setting out the next steps on EPCs and home information packs, the Minister said she would be meeting mortgage lenders and energy companies to discuss the development of these kinds of incentives.

Energy ratings for homes similar to consumer-friendly 'fridge ratings', will be compulsory from June 2007.  The certificates will outline the costs of heating, hot water and lighting in homes and give practical advice on how to cut these costs and reduce emissions.

If only one fifth of homeowners made the basic changes set out in their EPC they could save around £100 million a year on their energy bills and cut carbon emissions by the equivalent of taking 100,000 cars off the roads.

Yvette Cooper said: "We all need to work together to tackle climate change.  Twenty-seven percent of carbon emissions come from homes.” 

“Until now householders haven't had energy efficiency facts about their houses upfront; but next June every homebuyer will know exactly how energy efficient their homes are - and how they can improve this.  Why shouldn't this information be used by mortgage lenders or energy companies?”

Sixteen councils have already piloted schemes with energy companies where council tax rebates are offered to people who make energy saving changes to their homes.

 

Back to: News Index