Martin Lewis explains how to get £5,000 to improve your home AND cut your energy bills

An energy-efficient home is good for the environment, but it also has the added perk of slashing your energy bills. If you are looking to make your home more energy efficient, Martin Lewis has a tip for how to get £5,000 toward any improvements with the governments Green Homes Grant scheme.

Related: Has stamp duty been scrapped? This is what we know so far about Rishi Sunak’s plans to boost the housing market

When it comes to making a home more energy-efficient, the place to start is installing insulation or swapping windows for double-glazing. However, before you spend any money Martin advises holding off until the new government scheme kicks in.

‘Planning on getting insulation? Hold off – the Chancellor’s announcing a new up-to-£5,000 voucher scheme,’ he wrote in the latest weekly Money Tips email.

green home grant scheme 1

Image credit: Kirsty O’Connor/PA Archive/PA Images

‘The government’s set to unveil it’s new Green Homes Grant scheme for England, allowing eligible homeowners to use vouchers to pay for environmentally-friendly improvements such as loft, floor and wall insulation.’

The £2 billion grant scheme was officially announced yesterday by Chancellor Rishi Sunak. The scheme will start in September and will cover at least two-thirds of the cost of any environmentally-friendly home improvements, up to £5,000 per household.

Green home grant scheme 2

Image credit: Colin Poole

For example, the Treasury explained that a homeowner installing a cavity wall and floor insulation that costs £4,000, would only pay £1,320. The Government would cover the remaining £2,680.

The Government says that these improvements could save families hundreds of pounds on their energy bills.

How will the Green Home Grant scheme vouchers work?

Homeowners will be able to apply for the vouchers online when the scheme launches in September.

When applying, households will need to outline what improvements they’d like to make. They will also be required to give details of accredited local suppliers who will need to provide a quote.

green home grant scheme 3

Image credit: Colin Poole

Once a quote has been provided and the work approved, a voucher will be issued.

‘Our Green Home Grant will not only cut families’ bills by making their homes more energy-efficient,’ said Chancellor Rishi Sunak. ‘It will also kick-start our economy by creating thousands of green jobs – and supporting those skilled tradespeople who are ready to work.’

Related: Martin Lewis explains how to reduce your mortgage payments post lockdown

Take advantage of the scheme and start doing your research for any home improvements that could make your home more energy-efficient.

The post Martin Lewis explains how to get £5,000 to improve your home AND cut your energy bills appeared first on Ideal Home.

Leave a Reply

Your email address will not be published. Required fields are marked *

Close Bitnami banner