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All you need to know about Green Deal funding…

September 28th 2015
By: Melanie Hollidge
All you need to know about Green Deal funding…

If you are looking into Green Deal funding for your home then you will be too late, as unfortunately the government stopped accepting new applications to this scheme on the 23 July 2015. However if you still have already received Green Deal funding this will not affect your loan.
 
Here are Money Saving Experts key changes to the deal:
 
• The Green Deal Finance Company, which administers the scheme, is now not accepting any new loan applications.
 
• Applications for loans made before 3.30pm on 23 July will be processed as normal, so long as there are no large errors in them which may change the application.
 
• Existing Green Deal loans are NOT affected and will continue to be repaid as normal.
 
• Applications for cash from the Green Deal Home Improvement Fund - which is separate and not administered by the Green Deal Finance Company - will close on 30 Sep or when the remaining £4m funding runs out, whichever's sooner.
 
• The Energy Company Obligations (ECO) scheme, which was launched alongside the Green Deal and gives grants to low-income households and people living in older properties, will continue until Mar 2017 - its future after that is under review.
 
If you would like more information regarding the Green Deal why not check out the Government’s Green Deal website