 Barclaycard launches green loans to help homes cut energy
LONDON - Barclaycard is to launch a credit card and loan designed to help households reduce their carbon emissions. Starting next summer, Barclaycard Breathe Easy will assist homeowners who want to invest in making their homes more energy efficient.
Research from the Energy Saving Trust indicates that the average UK household could save around two tonnes of carbon dioxide (CO2) by making their home more energy efficient. Many consumers, however, are put off by the initial cost and the length of the ‘payback' on the investment.
The scheme has been developed in conjunction with retailers and manufacturers. It will allow customers to benefit from discounts from retail partners on home improvements which increase energy efficiency and, through the use of the loan facility, from a low interest rate on these balances.
A customer using Barclaycard Breathe Easy to buy home insulation products would receive an initial discount from one of Barclays partners. They would then repay the cost as a loan where their monthly repayments are expected to be in line with the savings they would make on their energy costs. This makes the whole project affordable for the householder. Once the loan is paid off, the customer will make savings for as long as they live in the house.
Sourse
|
