Mortgage alert: Homeowners may have to fork out thousands to improve homes in new rules

Mortgage alert: Homeowners may have to fork out thousands to improve homes in new rules

MPs are discussing proposals to add the cost of going green to the price of mortgages with the promise of cheaper bills.

It is likely to be met with caution from buyers who may find it more difficult to get a mortgage as it could cost them thousands of pounds more.

It is thought the proposals will be announced at the Global Investment Summit later today press reports have said. The plans form part of wider proposals to reduce CO2 emissions by nearly 70 percent by 2030.

Sarah Coles, personal finance analyst at Hargreaves Lansdown said it could cost homeowners more.

“It means anyone getting a mortgage could be encouraged to borrow extra cash for energy efficiency improvements as part of the deal.

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Published at Tue, 19 Oct 2021 12:35:00 +0000