Householders won’t be charged if they want to pay back early a loan took out through a government scheme to fund insulation and energy saving projects.
The removal of early repayment charges was announced today by the Green Deal Finance Company.
Before the rule change, for every £1,000 repaid early on loans lasting more than 15 years, there was a charge of £6 per year left on the loan.
But the Green Deal Finance Company which funds and administers the scheme suggested people weren’t happy with the arrangement.
Chief Executive Mark Bayley said: “This action is in direct response to views raised with us and will make Green Deal Plans an even more attractive, accessible and predictable proposition for energy saving home improvement”.
No early charges had been levied on Green Deal Plans.