Interest rates for the Green Deal
Interest rates set to be competitive but are they going to be enough to get people on board?
It looks like the interest rates for the Green Deal are going to be in the 7.5% range, according to Ed Davey, Secretary of State for Energy and Climate Change.
This is a competitive rate for an unsecured loan. If you were to add the maximum amount for domestic consumers, £10,000 over 25 years, which is the maximum amount of time (you can choose a shorter period if you want) the best rate I could find online was 14.5%. Remember that the Green Deal loans are unsecured loans and not attached to you.
What do you think of the interest rate? Is it competitive enough to get you motivated to have work done on your home? Answers below.