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Target 2050 Loan

Target 2050 Loan . Dan Shoesmith Stroud District Council 9 th December 2013. Overview. Stroud District Council and Severn Wye Energy Agency partnership. Designed for financing the installation of energy efficiency measures and renewable technologies.

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Target 2050 Loan

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  1. Target 2050 Loan Dan Shoesmith Stroud District Council 9th December 2013

  2. Overview • Stroud District Council and Severn Wye Energy Agency partnership. • Designed for financing the installation of energy efficiency measures and renewable technologies. • An alternative and complementary financial option. • 18 month pilot.

  3. Target 2050 Loan Details • Available for 1, 2, 3, 4 or 5 years. • For between £2,000 and £10,000. • A fixed AER of 5%. • Representative APR to be finalised. • 3 fees: • Project Management Fee (£6%) to Severn Wye • Credit Check & Land Registry Search (£29) to Stroud District Council • Land Charge Registration Fee (£40) to Stroud District Council

  4. Eligibility Criteria • Must be homeowners within Stroud District. • Must live in the property as their main residence. • Household income must be less than £40,000. • Household savings must be less than £16,000. (£18,000, if there is a person of a state pensionable age living in the property).

  5. Key Conditions • The loan is secured against the property. • Repayable on death or sale. • Households must have a accredited quality home energy advice report. • Subject to a credit check, affordability assessment and Stroud District Council approval.

  6. Measures and Installation • Measures aren’t bound by the ‘Golden Rule’. • Priority of installations. • Installer must be a member of the Link to Energy network. • Do not have to be a Green Deal accredited installer.

  7. Customer Journey 1. Contact the Warm & Well advice line. 2. Get an assessment. 3. Options. 4. Referral to Stroud District Council. 5. Quotes.

  8. Customer Journey • Apply. • Decision. • Approval. • Installation. • Completion.

  9. Installer Perspective • Customer will get quotes and contract the installer(s) through the Link to Energy network. • Installer will install the measures. • Stroud District Council will inspect, check relevant paperwork and sign off the work. • Stroud District Council pay the contractor directly. • Stroud District Council will not pay deposits.

  10. Marketing & Promotion • Promoted by Severn Wye Energy Agency & Stroud District Council. • A complimentary option to the existing finance options available. • Customers should be directed to the Warm & Well advice line (managed by Severn Wye Energy Agency). • Consumer Credit License restrictions.

  11. Summary • A complimentary financial option. • Hopefully an increase in the installations. • More work for installers. • Business as usual.

  12. Any Questions? Dan Shoesmith Stroud District Council 01453 754445 daniel.shoesmith@stroud.gov.uk

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