Martin Lewis explains how homeowners can get £5,000 vouchers to spend on property

Having an energy-efficient property is not only good for the environment, but a great selling point. Martin Lewis told homeowners how they could get £5,000 towards energy-efficiency improvements in a scheme expected to be announced by Rishi Sunak today.

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It is thought the announcement will come as part of the government budget update today.

The Chancellor is due to set out a £2billion grant scheme in England for home projects.

In his latest weekly MoneySavingExpert.com Money Tips email, Martin explained what is known about the scheme.

He said: “Planning on getting insulation? Hold off – the Chancellor’s announcing a new up-to-£5,000 voucher scheme.

 

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

How does it work?

The government plan could give some homeowners in England money to spend on home improvements.

So those hoping to make changes to their property could save money by holding off.

The money will be issued in the form of vouchers and will be worth as much as £5,000.

The vouchers could be used to pay for home improvements that will make a property more energy efficient.

For example, Britons could install insulation or add double-glazing windows.

How can you get one?

Homeowners could be able to apply for the vouchers online in September.

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When applying, Britons will need to outline what they would like to do.

They will also need to give details of accredited local suppliers who have to provide a quote.

Once details are reviewed and the application is approved, homeowners will receive the vouchers.

The introduction of vouchers would come as part of the Green Homes Grant scheme.

This is a wider £3billion plan to cut emissions in the country.

Under the scheme, the government could cover at least two thirds of the cost of home improvements.

Official details are expected to be outlined by the Chancellor this afternoon.

Read more on the Money Saving Expert’s latest Money Tips email. 

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