15th Oct 2008

Retrofitting Housing

80 per cent of the homes that will be in use in 2050 have already been built

The Ecology Building Society specialises in funding green mortgages for properties offering an ecological payback. They lend money to people who want to build energy-efficient new homes.

As well, in 2004, 39% of the society's mortgages were for the repair and restoration of run-down property. Refurbishment and restoration is key to lowering carbon emissions.

The Green Building Council is calling for a "pay as you save" system. A homeowner or landlord would borrow the costs of improvements (new windows and insulation) from a council or bank. We would then pay the money back, over a number of years, with the costs covered by lower energy bills. This would virtually eliminate up-front costs to the consumer. It could also lead to tens of thousands of "green-collar" refurbishment jobs.

In contrast to the tsunami unleashed by financial speculation, we need to get back to investing in the real economy.

For more information, please contact Scott Redding, on 07906 316 726, or at: sgredding2003@yahoo.co.uk