Home buyers may need to make their homes greener to get top-quality mortgages under new government plans

Home buyers may need to make their homes greener to get a mortgage deal under new government plans.

The restructuring could mean lenders need to disclose how energy efficient the homes they are loaning the British on.

The plan was outlined in the government’s net-zero strategy released today.

The government said it was working “with mortgage lenders to help homeowners improve the energy efficiency of their homes”.

It aims to improve the energy efficiency of houses to a rating of C – currently only 40% of houses meet this standard, according to Hargreaves Lansdown.

However, this means that the British may need to raise the money to make their home greener to get a mortgage if the plans go into effect.

If buyers cannot afford the improvements, they may fear they will not get a good deal and buy their home.

Hargreaves Lansdown personal financial analyst Sarah Coles adds that the government’s plans could also bring the value of your home down.

“Legislation is likely to provide some kind of exception so people can take out a mortgage on these houses,” she said.

“However, finding a cheap mortgage on an inefficient property will likely become much more difficult, making it harder to sell, which in turn will decrease its value.

“Owners can also struggle to reschedule so they end up paying over quotas every month.”

It is because the British are already facing rising costs to secure a new home.

In June of this year, real estate prices rose the highest since 2004 – the biggest jump in 18 years.

There is no longer any stamp duty relief for apartment hunters either – buyers saved tens of thousands of pounds during the tax exemption, but now they have to cough again after submitting the tax at the beginning of the month.

They might also have to bear the cost of replacing gas boilers – which could be banned by 2035 – under the government’s green plans.

But it was announced today that Britons with shortages of money can get £ 5,000 on a heat pump before the ban.

The government has allocated £ 450 million to provide these grants as part of their new boiler upgrade program.

How to make your home greener for less money

In addition to applying for a heat pump grant when the program opens in April next year, there are other ways to make your home more cost-effective and energy efficient.

You can insulate your loft for around £ 400 – which is a high price for many, but means you can get that money back in two years from lower energy bills.

You should use insulation that is at least 270 mm thick.

Buying a draft shield – these usually cost around £ 4 in stores – could also help keep the heat inside and make your home more energy efficient.

The councils also offer households energy efficiency grants of up to £ 10,000 to apply for.

The improvement grants are designed to save households hundreds of pounds in bills and reduce energy waste.

The use of energy-saving lamps can also save money.

You can install energy-saving lightbulbs that can save you € 180 in energy costs compared to older lightbulbs. The operation of an LED light bulb costs about 1.71 € per year.

We pay for your stories!

Do you have a story for The Sun Online Money team?

Email us at [email protected]