Martin Lewis shares how to get £5,000 to spend on property – six improvements you can make
We will use your email address only for sending you newsletters. Please see our Privacy Notice for details of your data protection rights.
Martin Lewis has given details on the government’s Green Homes Grant in his latest weekly MoneySavingExpert.com Money Tips email. The Money Saving expert explained that some property owners will soon be able to pick up vouchers worth thousands of pounds.
In an announcement made by Chancellor Rishi Sunak in July, it was stated some Britons would be able to get government funding for energy-efficient home improvements.
It came as part of a £2billion grant scheme that would allow some homeowners in England to get money to do up their property.
Rishi stated: “I’m announcing today a new £2billion Green Homes Grant.
“From September, homeowners and landlords will be able to apply for vouchers to make their homes more energy efficient and create local jobs.”
In his latest email, Martin has shared updates on exactly what this scheme will allow.
The Money Saving Expert also revealed why some people could be set to miss out.
He said: “The Government has now released more details on its Green Home Grant, including eligibility and what it covers.
“Those who just planned on getting double glazing will miss out.”
How does it work?
If using the scheme, homeowners in England can get money to spend on updating their property.
The government grant will aim to cover at least two thirds of the cost, up to £5,000 per household.
Some low income households will be able to get the entire cost covered, up to £10,000.
The government has now given an update on exactly what renovations qualify for the vouchers.
What improvements can you make?
In order to claim any vouchers, property homeowners need to also be installing insulation or low carbon heating at the same time.
Those who already have those features in their home can get top ups, such as additional loft insulation.
However, the vouchers can not be used to replace what is already in the property.
If making one of those renovations, homeowners will then be able to use the voucher for other improvements.
Martin recapped the remaining improvements the government has included in the scheme.
Full list of improvements
- Draught proofing
- Double or triple glazing, or secondary glazing
- Energy efficient doors
- Heating controls and insulation
Homeowners will get money off the cost of the primary and secondary improvements.
Those making these updates can only receive funding up to the valuation of the cost of the insulation or low carbon heating.
Source: Read Full Article