NRLA welcomes Chancellor’s support for Green improvements

by Property 118

12:28 PM, 8th July 2020
About a month ago

NRLA welcomes Chancellor’s support for Green improvements

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NRLA welcomes Chancellor’s support for Green improvements

The NRLA have welcomed the Chancellor’s announcement that they will be able to apply for vouchers to help fund the cost of energy improvements to rental homes.

Responding, Ben Beadle, Chief Executive of the National Residential Landlords Association, said:

“Improving the energy efficiency of rental housing is good news for tenants, landlords and local economies. We encourage all landlords to make use of this as it will mean housing standards are improved, tenants will save money and it will reduce carbon emissions across the whole sector.”

The Government has said that the £2 billion Green Homes Grant will provide at least £2 for every £1 homeowners and landlords spend to make their homes more energy efficient, up to £5,000 per household.

The Treasury has also confirmed to the NRLA that as a result of the package of reforms to stamp duty from today the 3 per cent stamp duty levy on the purchase of additional dwellings by landlords in England and Northern Ireland will change from covering the first £125,000 of a property to the first £500,000. Thereafter the rates will be 8% on the next £425,000, 13% on the next £575,000 and 15% on the remaining amount. These measures will be in place until the 31st March 2021.

Ben Beadle said:

“We need to boost the supply of all types of housing, including those for private rent to meet the growing demand that existed prior to lockdown. The change to the stamp duty rates for the purchase of rental homes is welcome, but could go further. The additional rates should be scrapped in cases where landlords invest in properties adding to the overall supply of housing. This includes investing in new build and bringing empty homes back into use.”



Comments

Hardworking Landlord

8:19 AM, 9th July 2020
About a month ago

Great, but my tenant has not paid rent since January and the government allows him to continue to stay at my property! Upgrading the boiler and lagging the loft are not my current priorities to be honest...

NewYorkie

9:50 AM, 9th July 2020
About a month ago

Reply to the comment left by Hardworking Landlord at 09/07/2020 - 08:19
I know how you feel! I will take advantage of this generous offer, but not for the scrounging tenant who decided he could stop paying his rent (according to him, I don't have to pay my mortgage so I don't need his rent!). He has worked throughout the lockdown and claimed self-employment income support.

Jack Craven

10:49 AM, 9th July 2020
About a month ago

How and when can we apply for this offer ?

terry sullivan

12:19 PM, 9th July 2020
About a month ago

more bs from govt and nlra

nb too much insulation will lead to claims for damp and mold

matchmade

8:43 AM, 11th July 2020
About a month ago

Hm, it looks like one had to use the same 'approved contractor' method as in the
failed Green Deal. The training fees to become 'approved' were expensive, which was passed onto customers, and the lack of approved contractors meant they could charge high prices. I was not impressed when I got a Green Deal quote to externally-insulate my Edwardian-era house, so I passed. Better to specify it yourself and get a normal quote from a normal competent builder, otherwise you're just acting as an intermediary to transfer money from the Government to the builder in the form of inflated prices.

A max £5000 grant is not much towards big jobs like external insulation, which ultimately the Government is going to have to force andlords to do if Zero Carbon means anything. I predict all rental properties will be required to meet EPC level B by 2030. Mass external render will be a catastrophe for the appearance of our beautiful historical housing stock.


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