Green Homes Grant Scheme
You may have heard about the Green Homes Grant Scheme in the announcement recently together with the Stamp Duty Land Tax ‘Holiday’. To further clarify what this is and how this may apply to you, I’ve set out a few points that are worth considering:
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The scheme starts in September 2020.
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It is a requirement as a Landlord to hold an EPC Energy rating report, which will show you the energy efficiency of the buy-to-let property. If you are thinking of improving this rating then this could be a great incentive to do so.
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The grant is up to £5,000 but could be as high as £10,000 dependent on certain circumstances.
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It is anticipated that the Government will pay up to two-thirds of the cost of making a home more efficient.
At present, there is very limited information with what this will mean for Landlords as the guidance has not yet been fully published.
Typical examples of qualifying improvements include, but are not limited to;
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Insulation
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Heating
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Double glazing
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Draught-proofing
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Renewable energy features such as solar panels and heat
From reviewing the guidance so far, this looks to be treated very much the same way as any other grant that has so far been given to the public to help with finances during this crisis. What I mean by this is that it will not be repayable, unlike the Coronavirus Business interruption Loan or the Bounce Back Loan – which are what they say on the tin – Loans!
So there you have it! Two great savers to help you with your buy-to-let portfolios!
Book a discovery call in with me and let’s find out if I can help you put a plan in place to take advantage of the current help that’s out there!
Contact details:
Mellissa Dean FCCA (Director)
M: 07740293463
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