In a further development in the great push for all of Britain’s rental properties to go green Gordon Brown is going to lend property owners the cash needed to make ecologically sound improvements. This is direct at residential property landlords unlike some of the other schemes we have talked about lately.
The idea is to allow the owners of these properties to make the required changes then pay the money back over a period of time, hopefully easing the financial burden. Those that have come up with the scheme believe that often the savings bought about by the improvements will be enough to cover the cost of the repayments. Interestingly the loan will actually be tied to the property and not the owners so in reality when you sell the house the loan goes with it.
The name being given to this is the Pay as You Save Scheme and the clear goal is to reduce the upfront costs associated with going green. The government are not doing this out of the goodness of their heart, of course, they are hoping to reach their ambitious reduction in carbon emissions goals over the next ten years.
It does sound good for the owners of residential properties in all fairness. Replacing your insulation can save you up to three hundred and eighty pounds and with the government offering to foot the bill while you pay it back you have literally got nothing to lose.
