The Green Deal Finance Company has been bought out by two sustainability-focused finance firms.
Greenstone Finance and Aurium Capital Markets yesterday announced the acquisition of the business behind the Green Deal loan scheme, which provided households with accessible financing to improve their homes with energy efficiency measures.
These loans will continue to be offered and upheld under the group’s new ownership.
They were originally introduced to address the fact that the UK has some of the least thermally efficient housing in Europe.
In particular they cater to those facing heavy upfront costs for essential upgrades such as boiler replacements, those who want to increase the value of their home with green upgrades and landlords that have been requested to upgrade the Energy Performance Certificate (EPC) rating of a home.
From April 2018 landlords will be legally obliged to do this to any home with less than an ‘E’ EPC rating.
Green deal loans not only offer competitive interest rates but are also extremely easily managed – they are paid back through household energy bills, which are likely to have been reduced from the energy savings generated from measures installed using the loan.
Kilian Pender, Founder and CEO of Greenstone Finance, said: “We believe that the concept of repaying your loan as you save on your energy bills is an excellent one and with the significant private investment that we have secured, we’re looking forward to rolling the Green Deal finance scheme out across the country.”