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  • Writer's pictureClive Cass

Thousands of Brits to get home insulation grants

The “Eco Plus” scheme, announced recently by the government, will provide insulation grants to thousands of households across the UK. It is expected to run from April 2023 to March 2026 as part of Chancellor Jeremy Hunt’s aim to cut Britain’s energy use 15% by 2030. The scheme is designed to help families reduce their energy bills and carbon emissions, as well as improve the insulation of their homes. Insulation is a key way to reduce heat loss in homes, and the Eco Plus scheme will provide families with up to £1500 towards the cost of insulation. In addition, the scheme will also provide grants for other energy efficiency measures, such as boiler replacement and cavity wall insulation. The scheme is part of the government’s wider commitment to tackling climate change and meeting its target of net zero emissions by 2050. Although details of the scheme are not yet finalised, reports suggest middle-income families could benefit along with those most at risk of fuel poverty and that the scheme will likely apply to people with council tax bands A to D. the government covering up to 75% of the cost of upgrades. The benefits and drawbacks of shared ownership Shared property ownership allows multiple parties to co-own a single property, with each party gaining an undivided and exclusive interest in the entire property. This mode of ownership offers certain benefits, however, it also carries risks. Let’s take a look at the pros and cons of this government-backed scheme.


  • The chance to become a homeowner without breaking the bank.

  • You will only need a mortgage for the share you own.

  • Thanks to “staircasing,” you can buy incremental shares in the property, allowing you to slowly work towards full ownership.


  • Buyers are still responsible for paying full maintenance and repair costs for the property, despite only partially owning it.

  • Should house prices fall, you could fall into negative equity, with the mortgage debt exceeding the value of the home.

  • The process of selling the property can be complex

New alternatives to the Help to Buy Scheme Despite the closure of the Help to Buy Scheme and a lack thereof in government replacements, first-time buyers can still find hope. Housebuilders and property investors are offering innovative solutions that could make all the difference for those looking to secure their dream home.

St. Modwen Homes St. Modwen Homes has launched two innovative schemes, which along with their “Deposit Boost” will help provide aspiring homeowners the assistance they need to make their property dreams a reality. The “Deposit Unlock” and “First-time Buyer Boost” packages offer a range of options for customers looking to get on the ladder. The Deposit Unlock scheme helps people buy a property sooner by allowing the purchase of a new-build home with just a five percent deposit, and they will have access to competitively priced mortgage products. To support first-time buyers, the First Time Buyer Boost includes a range of benefits to make purchasing a new home easier and more affordable. It allows buyers to reserve a property for just £99 – meaning they don’t have to worry about large upfront expenses. The housebuilder also pledges to cover up to £1,000 of the solicitor fees and lets buyers choose the flooring for the new home for free. You can learn more about these schemes from the St. Modwens Homes website. Kettel Homes With Kettel Homes investment platform, first-time buyers can now easily climb the property ladder without taking on a hefty mortgage. They offer an exciting scheme to “move in without a mortgage” with a minimum deposit of just 2%. The rental period lasts for 36 months before allowing the renters to transition into owning the property. They also offer individualised savings plans to help them reach a 10% deposit. Chestnut Homes With Chestnut Homes’ First Home scheme, first-time buyers can own 100% of their house while paying 30% less than its market value. The government supplements the rest. The discount applies to the home forever, meaning that generations of new buyers and the community will continue to benefit. However, when the property is being sold, the home must go to another first-time buyer at 30% less than the market value at the time of sale. To be eligible, you need enough money to secure a mortgage on half the cost of your desired home and your household income must be less than £80,000.

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