UK housing is some of the oldest in Europe, so it's no surprise that £250 billion will need to be invested by 2050 to bring houses up to date (UK Committee on Climate Change).
Green home improvements aren’t just good for the planet, they can also be good for your bank balance by reducing your energy bills. However, home improvements of any kind can be expensive - and it can be hard to know where to start with reducing your home's carbon footprint.
Some mortgage lenders, including Newbury, offer green mortgage products to help people create more environmentally-friendly homes. If you're considering retrofitting your home to make it more comfortable and efficient, here are some measures you could consider:
1. Upgrade your insulation
Most British homes built since the 1990s have insulated walls, but this often isn’t the case in older homes. Without upgrading poor insulation, you won’t see the benefit of more costly improvements, so considering the insulation in your walls, floor, and roof is a good place to start
Cavity wall insulation is often straightforward to install (using a registered installer accredited by the National Insulation Association is recommended), and with a third of heat lost through external walls, should help keep your home cosy.
2. Don’t glaze over the importance of windows and doors
Replacing any single glazing with double or triple glazing can help keep your home warm. Any older external doors can also be replaced to prevent heat escape, with eco-friendly designs containing integrated insulation or special finishes like inert gas fillings.
3. Harness the sun
As one of the most visible green property updates, installing a solar photovoltaic (PV) system may have crossed your mind already. Solar PV can connect directly to your electricity supply, which means its output can be used to power appliances in your home.
To heat your water, solar thermal could be an option. Whilst solar thermal systems are unlikely to provide 100% of your hot water supply, the Energy Saving Trust estimates that a good system should provide around 90% in the summer, and 25% in the winter. Bring on those bubble baths!
4. Renewable heating systems
With the price of energy continuing to rise, some are considering replacing older gas boilers with a more modern, renewable central heating system. Let’s focus on one option: heat pumps.
The two main choises are are air-to-water and ground-to-water heat pumps, with installation costing roughly £7,000-£19,000. Although heat pumps run off electricity, they're considered efficient because the heat produced is more than the electricity required to power them. Some energy suppliers also offer green electricity tarrifs, so you can ensure the power used to heat your home comes from a 100% renewable source.
Want to make a change?
As with any home improvements, green changes to your home can be expensive. That’s where our GoGreen products come in. Whether you want to up the green credentials of your current pad or build your own, we can help:
- For our existing mortgage members, our GoGreen Further Advance could help you make energy efficient home improvements or get started with retrofitting.
- Want to build your own eco-abode from the ground up? Our GoGreen Self-Build Reward is available on our self-build mortgage product to help you incorporate energy-efficient features into the design of your home.
book an appointment by video, in a local branch or by telephone.
YOUR MORTGAGE IS SECURED ON YOUR HOME. THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
