Green Deal Finance Company (GDFC) has raised over £3.6 million in investment from over 1,250 investors through ethical peer-to-peer finance platform Abundance.
With an annual rate of return of 12 percent for 3 years, GDFC bonds are eligible to be held in Abundance’s Innovative Finance ISA, so offering people a chance to earn a tax-free return. The bonds can also be held in Abundance’s SIPP, and the offer for investment will remain open until Monday July 31st.
Whilst the average investment to date is around £3,000 this masks a very broad spectrum – with several people investing the minimum of just £5 while the largest investment is £95,000.
Since the investment offer opened in May, the new owners of The Green Deal Finance Company, Greenstone Finance, Aurium Capital Markets and Honeycomb Investment Trust, have started writing new loans and homeowners are already beginning to benefit from the energy-efficiency measures installed.
Bruce Davis, co-founder and joint managing director of Abundance, said: “Switching to a better boiler can improve energy efficiency by up to 30% – proving that the simplest solutions can be the most effective. The Green Deal is now back, better than before, to make it easier for ordinary people to make a difference to their homes and the environment, and we expect to see growing numbers of people taking advantage of the unique ability GDFC offers to repay their loans through their energy bills.
The GDFC’s aim is to become the leading platform for consumers in the UK in the home energy efficiency space and transform the sector through the investment and application of smart technologies, and a focus on high levels of customer service.
The GDFC is a scheme designed by government to help homeowners and landlords invest in renewable energy or energy efficient products, by providing them with attractive finance which they repay through their electricity bills.