Owners can borrow up to €75,000 for energy efficiency upgrades, underpinned by European funds
Homeowners will be entitled to apply for low-interest retrofitting loans worth up to €75,000 from early next year, under plans approved by Cabinet.has received approval from Government for the establishment of a long-awaited €500 million residential retrofit loan guarantee scheme which will be underpinned by resources from the European Investment Bank Group.
An open call inviting lenders to participate in the scheme will take place and homeowners will be able to apply for the loans from early next year. Speaking last weekend, Mr Ryan outlined some of the reasons for the delay in rolling out this scheme, which has been promised since last year. He said the European Investment Bank had not previously engaged in a loan system directly to consumers. Late in the process they found it was not “something they were able to deliver on, so we had to change the approach, using other financing mechanisms”, Mr Ryan said, adding: “we have done that”.
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