Insulation Can Reduce Heating Bills ’For Years’

Getting insulation installed into homes could help consumers reduce their financial burden, according to one industry commentator.

Neil Marshall, chief executive of the National Insulation Association (NIA), reports that as the cold winter months set in now is an "ideal time" for homeowners to get lofts and cavity walls insulated, with a home loan one possible way of funding the expense of such a move. Overall, he claimed that the form of home improvement can set consumers back by about 500 pounds, although there are "plenty of grants and subsidies" available in which to help lower the cost of insulation material. Consequently getting insulation could not only reduce heating bills but in turn may help consumers reduce demands on other areas of their finances such as mortgages and plastic cards.

He said: "We’re now seeing the coming on of the cold weather; we’re really moving into the heavy quarters in terms of energy bills - the heavy period is really October to February - so I would argue that the quicker you get insulation installed, the quicker you can make savings on the bills that are going to be coming through next year."

The NIA executive also pointed to research from the Energy Saving Trust revealing that loft and cavity wall insulation would save consumers about 100 pounds and 90 pounds respectively over the course of a year - and with this totaling 190 pounds it is a sum that may help people make homeowner loan repayments or spend on more luxurious items. Mr Marshall added that if consumers can get the cost of having insulation installed subsidised then they would have recouped their original expenditure in less than three years. In addition, he asserted that as "insulation is there for life" consumers will continually be able to make savings on a "year-on-year" basis.

Despite people being able to purchase insulation at any time of the year - whether through a homeowner loan or other means - the NIA executive suggested that the majority of consumers wait until temperatures drop before carrying out such work. "As soon as the cold weather sets in, people are looking to get it done," Mr Marshall asserted. He added that although getting insulation fitted is basically the same process at any time of the year, getting such work carried out before the cold truly sets in will be of greater benefit to homeowners, both in terms of keeping their property warm and in a financial sense.

Those people taking out a homeowner loan to fund insulation work in an attempt to reduce their heating bills may also wish to use the money from their loan to get their boilers and radiators serviced. A study carried out by uSwitch earlier this year indicated that over 64 million pounds is to be wasted this year through "unnecessary" repair bills as a result of not having sufficient service checks and insurance put in place.

And with the cost of a new main heat exchanger and radiator setting consumers back by an average of 468 pounds and 291 pounds respectively, getting such appliances serviced regularly could help them avoid coming under financial pressure in the future. Research from the company also showed that a third of all boilers break down within the first six years that of being installed.