The Green Deal Finance Company has confirmed the initial interest rate at 6.96%. However consumers should be aware of a £63 set up charge and an annual £20 operating charge which will impact the true cost of borrowing.
Estimates have been suggested that a £10,000 loan will cost nearly £21,000 over a 25 year period. Consideration should be taken as to the amount and type of improvements being undertaken bearing in mind the length of time of any loans, the life span of the products, changing energy requirements and potential house sales.
At this initial stage we would recommend that customers review all financial options before committing to any deal.
At GSM we are happy to discuss any potential renewable improvements and offer assistance to customers where we can.
For more information about the Green Deal or sourcing renewable solutions please feel free to contact us on 01531 – 828782. All our advice is free.