5. How to pay
You can pay in advance, get a Green Deal finance plan, or use other schemes to fund the work. You can also combine ways to pay.
Getting a Green Deal finance plan
Finance plans are offered by approved Green Deal providers.
Give your Green Deal assessment to providers you want to get a quote from.
Your provider will find an installer for you.
You can only get a finance plan for improvements recommended in your Green Deal assessment.
Each provider must tell you:
- how much you’ll pay back
- how long you’ll pay for
What you can borrow and how much you’ll pay
You can get finance for an amount based on what you’ll be expected to save on your energy bills.
The annual repayments on the loan shouldn’t be more than the savings you might make on your energy bills.
There’s no set interest rate. Your interest rate will be determined by the amount of your finance plan. Check with your provider for rates and fees.
The interest rate is fixed for the full term of the plan so your repayments will be fixed.
How you pay
You pay back the loan through a charge added to your electricity bill. A small amount will be taken from the meter each day if you have a prepayment meter.
This is because the Green Deal stays with the property. If you move, you no longer benefit from the improvements and therefore stop paying for them.
You can pay off your Green Deal early, but you might be charged a fee - check with your provider.