Will Brits pay more if homes aren't energy efficient?

Article date : 22/07/2010

 

Purchasing a home that is not energy efficient could end up costing people more money in stamp duty under proposals currently being considered by the government.

According to the Daily Mail, individuals who fail to upgrade their inefficient boilers, windows and loft insulation could face "thousands of pounds" in extra taxes.

Writing for the publication, David Derbyshire said: "Under one scenario being considered by ministers, people who buy a poorly insulated property would have to pay an extra 0.5 per cent levy on top of the normal stamp duty."

Mr Derbyshire noted the changes would be implemented alongside the government's Green Deal initiative.

The scheme would see British property owners given free sustainable modifications for their residence, with the money being paid back through energy savings.

Scott Byrom of moneysupermarket.com recently claimed power prices may be about to go up as many providers have begun to take their cheapest deals off the market.

Written by Tony Harrison

 

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