Low interest loans will bring warmer homes to Dundalk says Cllr Butler
Part of €500 million scheme to support homeowners to invest in energy efficiency
Local homeowners will be able to borrow between €5,000 to €75,000 at significantly lower interest rates to make their homes warmer and cheaper to run, as part of a €500 million scheme to support homeowners to invest in energy efficiency, and one that is strongly supported by local Green Party Councillor Marianne Butler.
The scheme will make energy upgrades a more realistic option for many more people, said Cllr Butler. PTSB is the first financial institution to offer loans to homeowners under the Scheme with rates from 3.55%. Other banks and local credit unions are finalising the approval process and are expected to start offering loans in the coming weeks.
Cllr Butler praised the scheme and encouraged local people to take advantage of the opportunity. “This is a real chance for people to cut their energy bills, enjoy warmer homes and help the planet.
"The Green Party is determined to make climate action practical and easy for people, and this scheme is an important part of this. Last year, over 48,000 home energy upgrades were supported by SEAI, including almost 1,200 in Louth, and we’re going to bring this to even more homes this year.”
The loans can be used by homeowners who want to undertake a deep retrofit involving several energy improvements or to just make one or two changes. Provided the works will significantly improve the energy performance of their home and are supported by a SEAI grant. There is no requirement for the loan to be secured against the property and can be repaid over up to 10 years.