Restrict mortgages for non-energy efficient homes, expert advises
Restrict mortgages for non-energy efficient homes, expert advises
Friday, 26 February 2010
2:45 PM
Mortgages for non-energy efficient homes should be restricted, according to one property expert.
Finance for properties that waste energy should be more difficult to get hold of, as this would encourage more people to take action, suggested Andrew Leech, director of the National Home Improvement Council (NHIC).
"You possibly won't get a mortgage unless you are planning to increase the efficiency of the house by [around] another 50 per cent," he commented.
Such a system is "just around the corner" and would lead to an increasing number of energy efficiency-based improvements, Mr Leech continued.
In order to meet the government target for carbon reduction by 2050, some 50,000 houses a year need to undergo energy-efficiency upgrades, he added.
Mr Leech urged homeowners to make the most of the grants and advice available for eco-friendly home improvements and called for the government to do more with such schemes.
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