Landlords urged to take advantage of Green Deal

Landlords have 18 months to make use of a Green Deal loan

Landlords have 18 months to make use of a Green Deal loan - Credit: Getty Images/iStockphoto

New rules to make let properties ‘greener’ come into force in a year and a half.

Landlords must meet strict environmentally friendly targets, which means the home improvements need to be undertaken by many.

The Green Deal – which is no longer funded by government but is available through private companies – has helped thousands of property owners enhance the energy efficiency of their buildings.

And now there are 18 remaining months for landlords who still need to install a new boiler, add insulation, make their home draught-proof or carry out other eco-friendly work using a Green Deal loan.

Allison Thompson, managing director at property specialist Leaders, said: “Despite the withdrawal of government funding in 2015, the Green Deal continues to give landlords across the UK a chance to bring their properties up to speed, with the latest eco-friendly requirements on favourable terms.

“Repayments on Green Deal loans are typically no more than the savings made on energy bills as a result of the improvements, so it makes great sense for people to utilize the scheme.

“With winter just around the corner, this is the perfect time for landlords to think about whether they could be doing more in terms of energy efficiency. And if they invest in a programme of improvements, the rewards of doing so should be immediately apparent at this time of year.”

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Older properties, especially those from Edwardian and Victorian times, only achieve an EPC rating of F and G, meaning they need to make green changes if they are to meet the new criteria of reaching at least an E.

Allison added: “Once green improvements have been made, it is likely to become significantly more attractive to tenants, who will benefit from lower gas and electricity bills, as a result. This will ensure a home remains in high demand and tenants could choose to stay longer.”