House of Lords written question – answered at on 11 March 2014.
To ask Her Majesty’s Government what assessment they have made of the interest rates for loans provided through Green Deal plans; and what consideration they have given to reducing such rates.
The current interest rate available for loans provided through Green Deal plans is set by the Green Deal Finance Company, which is independent of Government. Our assessment of the rate is that, whilst there is no product that is directly comparable, it is a competitive rate and available to customers with a wide range of credit scores. We have no current plans to act to reduce the rate but we have and will continue to consider ways to deliver our policy objective of ensuring that lack of finance is not a barrier to installing energy efficiency measures.
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