New homebuyers will need no longer put up with living in expensive-to-run homes under new government plans to provide one-off enery efficiency grants for energy saving measures.
The proposal is yet to be consulted upon but will likely include a £1,000 discount on stamp duty for simple energy efficient measures and figures up to £4,000 for bigger installations.
The government’s plans remain a little unclear but the plans made public to date state that application for grants, which would be equivalent of about half the stamp duty on an average house, would be open to all homebuyers.
Measures likely to qualify for the new energy efficiency grants are boilers or lost insulation with measures including double glazing or renewable heat installations being potential candidates for the higher level grants. Applicants’ eligibility will likely be determined based upon an inspection of an energy performance certificate (EPC). The EPC measures a home’s actual and potential energy efficiency, which must be known to anyone selling their home.
The grants will likely be open to anybody moving house even if they don’t pay stamp duty and is hoped to help around 60,000 homes per year for three years.
The administration of the plans are unclear but greater detail will become available following the consultation and the scheme will likely come into effect in spring 2014.
This is a part of a collection of energy saving proposals the government has announced. Others include support for landlords to improve their rental homes’ energy efficiency and £90m to be spent across three years on improving the energy efficiency of schools, hospitals, and public buildings.
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