How to access a low cost loan to retrofit your home

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Details of the State’s low cost loan scheme for energy upgrades have finally been unveiled: so who qualifies and how can you apply?

Skeleton House Frame Construction Worker Wearing Safety Harness Staying in Front on the Building and Preparing Himself For the Job.

Rising interest rates over that time also mean the first offering under the €500 million Home Energy Upgrade Loan Scheme announced on Wednesday by Mr Ryan, flanked by Minister for Finance Michael McGrath and junior finance minister Neale Richmond – is coming in above the 3 per cent to 3.5 per cent promised. by Mr Ryan.

You need to be resident in Ireland. The property you are applying for financial support to retrofit must be located in the Republic and you must prove your ownership of the property by providing its MPRN . An applicant cannot be either insolvent or bankrupt. But if you are looking at new windows, floor insulation, ventilation or installing solar panels, these are only available on the latter scheme.

PTSB’s home improvement rates are not the most competitive but the new low cost loan rate still compares favourably to AIB’s current green loan offer of 6.25 per cent, An Post’s 6.7 per cent or Avant’s 6.9 per cent. What those banks offer under the new low cost loan scheme remains to be seen.The Government is subsidising the interest rates by two percentage points to allow the bank offerings to be more attractive for homeowners.

Commenting on the announcement, Friends of the Earth described it as “welcome”, including its inclusion of small private sector landlords.

 

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