Prospective home buyers are wary of purchasing properties with a Green Deal loan attached to it, according to a survey by consumer watchdog.
A survey of 2,070 people revealed that 21% of people asked would reconsider buying a home if it had a Green Deal loan attached to it. Furthermore, 46% of those surveyed indicated that they would want any Green Deal loan to be paid off before they bought the property.
Concerns over what impact Green Deal loans will have on the saleability of a property have been raised before and, as some measures included under the ‘golden rule’ do not pay back for 25 years, homeowners who take up the Green Deal could find selling the property more challenging despite the property’s better energy performance.
Commenting on the results, Which? executive director, Richar Lloyd, said: “The Green Deal might work for some people but, as with any financial product, whether it’s a good deal for you will depend upon your personal and financial circumstances. Overall, people should tread carefully, check the small print and shop around.”
The Green Deal appears to be gaining traction amongst the British public, with more than 9,500 assessments lodged in April alone. The Which? survey shows that public awareness of the scheme has increased considerably since its launch in January from 35% to 52%. However, companies involved with the Green Deal have become increasingly vocal in their criticisms, citing the overly bureaucratic nature of the scheme and lack of funding access as the reason why installation of measures following assessment have been delayed.