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Green Deal home improvement loans relaunch

Paloma Kubiak
Written By:
Paloma Kubiak
Posted:
Updated:
20/06/2017

The Green Deal Finance Company (GDFC) has started offering loans to homeowners looking to make their properties more energy-efficient, two years after government funding for the scheme was pulled.

The GDFC was a government-funded scheme to encourage homeowners to make their property more energy-efficient such as with insulation and double glazing via green deal loans. In July 2015, the government axed its funding.

But nearly two years later and following the acquisition of the company from the UK government and its shareholders in January 2017, the GDFC has begun financing loans through a select number of Green Deal providers as part of a ‘soft launch’ into the market space. It aims to officially roll-out later in the year.

GDFC is now looking to improve the Green Deal loan product and the service it will offer to customers.

Anyone interested in the scheme can register at GDFC where they will be put in touch with their local Green Deal Provider.

Kilian Pender, CEO of the GDFC, said: “We are extremely pleased to announce the relaunch of the Green Deal scheme and Green Deal loans. Since acquiring the business in January, we have received a very significant amount of support from government, energy-efficient focused organisations, manufacturers and installer organisations amongst others, all of which are eager to see the scheme continue where it left off and build further momentum.

“While there is still work to do to develop and improve the Green Deal product, we are delighted to be able to take this significant first step of making loans accessible to homeowners again to improve their homes through Green Deal finance. Given our focus on quality control and providing high levels of service to our customers and installer partners, we have taken the decision to start slowly through a select number of Green Deal Providers, although we hope to offer finance through a wider number over the coming months.”

The GDFC is currently raising debt finance through the peer-to-peer finance platform Abundance Investment. The Green Bond offers 12% interest a year. See YourMoney.com’s Green Bond paying 12% interest launches: is it too good to be true? for more information.