Specialist development finance lender, Magnet Capital, has announced it is offering developers an incentive for the construction of eco-friendly homes.
The campaign, which is due to be launched on a 3 month trial period, will aim to increase the amount of eco-friendly homes built in the UK.
Ashley Ilsen, Magnet Capital CEO, said, “I think we are quite far behind many other European countries in terms of our standards for producing energy efficient housing. At Magnet Capital, we wanted to find a way to focus the minds of our developer clients and encourage more environmentally friendly houses to be built. If the government are going to hit their emissions reductions targets with the construction of more Eco-homes then they need to be doing more to incentivise developers, and I hope our humble campaign can set a standard in our industry to get Britain building more and more sustainable housing stock.”
Sam Howard, Magnet Capital Manging Director said, “At Magnet Capital we are passionate believers in the need for the UK to reduce emissions. House builders can utilise a myriad of existing available technologies, such as solar photovoltaic, ground and air source heat pumps, and LED Lighting to reduce the property’s carbon footprint and the aim of our campaign is to try to incentivise our developer clients to do likewise.
The new build developments will need to be given an EPC ‘A’ rating in order to qualify for the incentive, which if they do will see them have a preferential rate rebate in addition to a free initial valuation.