Grants and Finance
We believe the upfront cost of energy efficiency should not be a barrier to long-term savings.
We help our customers access available grants and finance by:
- Assessing grant eligibility
- Offering free independent financial advice
- Meeting the standards required by ‘green finance’
How can I pay for home renovations?
Savings
If you have funds available, you may want to use these rather than borrow money.
Set yourself a budget, and Ecofurb will tailor a Plan to match it in line with your priorities.
Grant funding
There is limited funding available for energy efficiency measures, with strict eligibility criteria.
Insulation Grant
If you are currently claiming benefits, have a low household income, have a severe health condition, or do not use mains gas, you may be eligible for help under the ECO scheme or a Home Upgrade Grant.
Ecofurb will offer eligibility checks for nationally available grants if you take up a Plan, and local authority-backed grants with partner councils.
If you think you are eligible and are only wanting a single measure, please use this gov.uk service.
Heat Pump Grant
The Government Boiler Upgrade Scheme could help with the cost of replacing a fossil fuel heating system with a heat pump or biomass boiler.
This has fewer eligibility criteria, as moving homes off fossil fuel heating is a Government priority.
Ecofurb installers will help our customers with this grant.
Borrowing
Our partners at Knight Frank Finance can give you free and independent advice on all sorts of mortgages and loans that can help you spread the cost of the works.
Ecofurb will offer this option to homeowners who take up a Plan as part of its grants and finance service. Advice includes the following options, dependent on your circumstances.
Loans
Banks, Building Societies and specialist lenders offer a range of unsecured credit options.
For example, personal loans are typically between £1,000 and £25,000, which are repayable over a fixed number of years.
Make sure you can afford these payments, and your Ecofurb Plan can be tailored to your budget.
Mortgages
If you’re looking to purchase a property, or don’t have a mortgage on your property at the moment, you may be able to raise the funds you need by taking out a new mortgage.
The amount you can borrow will depend on your income and expenditure, so speak to a mortgage advisor and find out how much you can borrow.
Mortgages
If you’re looking to purchase a property, or don’t have a mortgage on your property at the moment, you may be able to raise the funds you need by taking out a new mortgage.
The amount you can borrow will depend on your income and expenditure, so speak to a mortgage advisor and find out how much you can borrow.
Further Advance
Most mortgage lenders will allow you to increase your current borrowing, providing you have enough income to support the increase in costs. Speak to a mortgage advisor about whether this is possible.
Green Mortgages
Green mortgages offer preferential deals based on a property’s energy performance certificate (EPC).
These products are available to homebuyers and, in some instances, people wishing to remortgage, so if you would like to find out if you qualify for a green mortgage, speak to our independent financial advisors.
Second Charge
If your existing lender can’t help but you don’t want to move your mortgage, you may want to consider a second charge loan secured on your home.
This is similar to a mortgage but will be with a different lender and is likely to have different terms. Speak to a mortgage advisor about what a second charge might look like.
Remortgage
You may be able to raise the funds you need by remortgaging to a new lender.
You will need to consider the costs involved carefully, so speak to our advisors to understand your remortgaging options.
Over 55s
There is a growing number of mortgage options available for older homeowners, including Retirement Interest Only (RIO) mortgages and Lifetime mortgages.
If you are over the age of 55 speak to a mortgage advisor about what is available to you.
Our partners at Knight Frank Finance can give you free and independent advice on all sorts of mortgages and loans that can help you spread the cost of the works.
The choice of interest rate and product terms will depend on your circumstances and the amount of the mortgage. Before you make a mortgage application, we will carry out a full review to establish your needs and preferences. If you meet the criteria, we will give advice and make a recommendation to you. We do charge a fee for mortgage advice. All mortgages are subject to status. Please note that all products show an indicative rate only and may not be suitable for you. You must be 18 or over.
Your home may be repossessed if you do not keep up with mortgage payments.
Knight Frank Finance LLP is authorised and regulated by the Financial Conduct Authority under Financial Services Register number 459093.
Disclosure: if you act on advice from our partner, Ecofurb will receive a commission to help fund their mission to deliver free online advice and a retrofit plan to every home.