Early repayment charges removed for Green Deal loans

Home owners who’ve taken a Green Deal loan and wish to pay it back early will be able to do so without any extra charges, the Green Deal Finance Company has announced in a recent statement.

The financial institution in charge of managing all Green Deal loans revealed that existing and prospective customers were not happy with the current arrangement, which saw a charge of £6 per year left on the loan added for every £1,000 repaid early on loans lasting more than 15 years.

Interest rates on the Green Deal have already been pushed down, while cashback has been upped, to try and make it a more “attractive” scheme for home owners.

Chief Executive Mark Bayley said: “This action is in direct response to views raised with us and will make Green Deal Plans an even more attractive, accessible and predictable proposition for energy saving home improvement”.

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