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54, Vasileos Constantinou, Erimoudes Court, 1st Floor, 3075, Limassol, Cyprus
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UK Eco Loan

Plans to make UK homes more energy efficient through new "eco-loans" could help to push up property prices but reduce the size of mortgages buyers can borrow, property market experts warned today.

The government plans to allow homeowners to borrow money to fund the upfront costs of eco-upgrades, such as the installation of solid wall insulation, heat pumps and solar panels.

Instead of paying for the energy efficient work upfront, homeowners will be able to take out a long-term loan, with repayments made through a pay-as-you-save mechanism. The loans will be designed so the repayments are less than the amount the borrower saves each month on energy bills, producing a monthly surplus.

This means that anyone living in a house that has had energy efficiency work done could make money out of the process even while the loan is being paid off.

In its household energy management strategy, the government acknowledged that although efficient homes were cheaper to run, this had not yet been reflected in house-buyer demand or property prices.

"A price differential between energy efficient and inefficient homes, coupled with the added prospects of lower fuel bills, would offer homeowners greater incentive to invest in energy efficiency measures," it said.

It has asked the Royal Institution of Chartered Surveyors (RICS) to develop recommendations for both government and property professionals "so that the energy performance of a property starts to be better reflected in its market value".

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Paradisia Residences


Our Paradisia project has been designed to create a harmonious balance of comfort and style. Our architects were inspired by the "Bird of Paradise", a stunning flower, whose colours symbolize the beauty of life. The simple and modern lines of Paradisia are designed to show you what living in a paradise - YOUR paradise – would be like.


Paradisia is located at Erimi, in an excellent newly laid-out site, with easy access to Limassol. It consists of six luxury houses with 3 or 4 bedrooms, characterized by large comfortable rooms and functional spaces. Our determination to offer only high-standard projects ensures that Paradisia Residences will be finished using not only the best materials throughout, but also a great amount of positive energy, enthusiasm, and creativity in order to maintain our promise of creating exceptional properties that will fulfil your expectations.

Martin Ellis, chief economist at the Halifax, one of the UK's biggest lenders, said he thought the strategy would pay off.

"Annually homeowners should be better off: I think energy efficiency will become something that people take into consideration alongside location. It won't make a huge difference to prices, but it should be a positive one," he said.

One potential sticking point is that the new loans will be attached to the properties involved.

If a borrower sells up before the loan is paid off, the loan will have to be paid by the next owner. Some mortgage experts fear this could have the effect of reducing the amount buyers can borrow when taking out a mortgage.

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