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Home buyers ‘wary’ of Green Deal

Joanna Faith
Written By:
Joanna Faith

Prospective home buyers are ‘wary’ of buying a property that has a Green Deal loan attached to it.

A survey of more than 2000 people by consumer group Which? found that a fifth would reconsider buying a home if it had a Green Deal loan attached to it and almost half would want a Green Deal loan paid off before they bought the property.

The Green Deal, which launched at the end of January, provides homeowners with a loan to install energy efficiency measures, such as insulation and double glazing. The loan is then repaid over several years via the customer’s energy bills.

Which? executive director Richard Lloyd said:”With rising energy prices still one of the top consumer worries, measures that help people make their homes more energy efficient are vital to help save money on bills.

“The Green Deal might work for some people but, as with any financial product, whether it’s a good deal for you will depend upon your personal and financial circumstances. Overall, people should tread carefully, check the small print and shop around.”

According to the Which? research, however, awareness of the Green Deal has increased since the launch in January from a third (35%) to more than half (52%).