Huge savings on offer to help fund green home improvements such as heat pumps with Halifax

House buyers are being offered cashback worth up to £2,000 on new mortgages to spend on green home improvements.

The offer from Halifax – which is mirrored by Lloyds Bank – comes under the Green Living Reward cashback scheme.

Households with a Halifax mortgage can get £2,000 cashback towards a heat pump, while there are rewards of £500 and £1,000 towards other green home improvements.

It is available to any mortgage customer with a Halifax current account taking out new lending or a new deal and wants to make their home greener, warmer, and – potentially – cheaper to run.

Customers can fund the work in any way they choose and the cashback is repaid after the home improvements are complete.

For those interested in heat pumps, the biggest discount is the Government’s Boiler Upgrade Scheme (BUS) gives grants of up to £7,500.

The average BUS grant is £5,819 per home, and the typical heat pump fitted under the scheme costs £13,300.

That means a Halifax homeowner getting the typical BUS grant and heat pump could bring down the total cost from £13,300 to £5,481.

 

Halifax cashback offers

Air source heat pump – £2,000

Solar panels (photovoltaic) – £1,000

Battery for solar storage – £1,000

Biomass pellet boiler – £500

Solar thermal heating – £500

A-rated double/triple glazing (where replacing single glazing) – £500

Secondary glazing – £500

Cavity wall insulation (including party wall) – £500

Flat roof insulation – £500

Loft and pitched roof insulation – £500

Roof in roof insulation – £500

Smart air bricks – £500

Solid floor insulation – £500

Solid wall insulation – £500

Suspended wooden floor insulation – £500

Customers are eligible for Green Living Reward benefits when they complete on their mortgage application. This could be for buying a home or buying property, remortgaging, and product transfers, or taking a further advance.

Once they have completed on their loan, they have 12 months to make a claim.

To claim their cashback, customers need to fill in some details and upload a copy of their tradesperson’s invoice as evidence that the work has been completed.

Once the claim is made, Halifax aims to pay the customer within five working days.

Andrew Asaam, Halifax mortgages director, said: “We are committed to helping our customers live in warmer, more energy-efficient homes, on the journey to Net Zero. Improving the way older homes are heated, powered, and insulated is critical.”

A matching offer is available for Lloyds Bank mortgage customers.

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