Jump to content
House Price Crash Forum
Sign in to follow this  
interestrateripoff

Consortium To Bankroll Cheap Loans For 'green Deal' Energy Efficiency Drive

Recommended Posts

http://www.guardian.co.uk/environment/2011/oct/02/green-deal-energy-saving-bankrolled-by-consortium

A number of blue chip names in banking, building and energy have signed a deal to create a unique not-for-profit financial company which will deliver billions of pounds of energy efficiency investment to residential and business premises.

The aim of the companies, which include power companies British Gas and E.ON, retailer B&Q and the banks HSBC and Goldman Sachs, is to ensure low-cost finance is available to the 14m homes the government hopes will be refitted by 2020 under its green deal starting in October 2012.

The green deal will enable homeowners and businesses to access loans for loft lagging, cavity wall insulation and other efficiency measures. It is a rule of the scheme that the savings on energy bills must be at least as big as the loan repayments.

Companies and banks had feared that if the loans were priced at personal loan rates, only basic efficiency measures could be funded without breaking the rule, limiting effectiveness of the scheme in cutting carbon emissions.

"The new company would put together as many loans as possible and very quickly give access to the capital markets," said Paul Davies, a senior partner at consultants PwC who is co-ordinating the founding of the Green Deal Finance Company.

Line line up save the economy take on even more debt to save the economy.

Share this post


Link to post
Share on other sites

Line line up save the economy take on even more debt to save the economy.

Let me guess: Although technically 'Not for Profit', a select group of the usual suspects *cough* bullingdon boys *cough* will be appointed directors and receive gigantic bonuses for turning up. Half the loans will end up helping to re-roof the country houses of the landed gentry. Much of the rest will go to people who would have done the work anyway. People who could really use the money will find their applications ignored and/or rejected for trivial reasons. After repeated scandal, it will be closed down with the directors given epic payoffs as compensation.

Share this post


Link to post
Share on other sites

Line line up save the economy take on even more debt to save the economy.

Let me guess: Although technically 'Not for Profit', a select group of the usual suspects *cough* bullingdon boys *cough* will be appointed directors and receive gigantic bonuses for turning up. Half the loans will end up helping to re-roof the country houses of the landed gentry. Much of the rest will go to people who would have done the work anyway. People who could really use the money will find their applications ignored and/or rejected for trivial reasons. After repeated scandal, it will be closed down with the directors given epic payoffs as compensation.

Share this post


Link to post
Share on other sites

Let me guess: Although technically 'Not for Profit', a select group of the usual suspects *cough* bullingdon boys *cough* will be appointed directors and receive gigantic bonuses for turning up. Half the loans will end up helping to re-roof the country houses of the landed gentry. Much of the rest will go to people who would have done the work anyway. People who could really use the money will find their applications ignored and/or rejected for trivial reasons. After repeated scandal, it will be closed down with the directors given epic payoffs as compensation.

Yes. Most (actually all I would guess) housing associations are technically "not-for-profit". That phrase, as you imply, is now utterly meaningless. Similarly, the "green" label is just about the most appallingly exploited term for often not very sound infrastructure investment to go through on the nod, without proper checks or investigation. This business model started with the IPCC and Al Gore (current worth estimated $100-200 million all on the back of much maligned and exposed bogus global warming paranoia - see East Anglia University for more UK info plus www.climateaudit).

Even your local pumber and rip off double glazing manufacturers and dealers are swanning around now with green logos festooning their vehicles, ads and company note paper. The green fest is utterly corrupt, and the ultimate in band waggoning. Don't believe a word of it.

Share this post


Link to post
Share on other sites

http://www.guardian.co.uk/environment/2011/oct/02/green-deal-energy-saving-bankrolled-by-consortium

Line line up save the economy take on even more debt to save the economy.

The only way to expand consumer credit at this juncture is to provide financing for a product that "pays for itself" in the form of government subsidy and energy cost savings. We will see whether it pays for itself or not. Another peculiarity of this scheme is that the loan attaches to the property and not the individual, with repayments being collected via energy bills.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 333 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.