Heat pump cashback: which banks offer up to £2,000 and how to claim it.

Key takeaways

• Lloyds, Halifax and Barclays each offer up to £2,000 cashback when you install a heat pump.
• Virgin Money and Nationwide reward greener homes with cashback, low-interest borrowing, or discounted mortgage rates.
• Green Homes Wales offers interest-free loans, grants, and expert support to make energy upgrades more affordable.
• Most schemes require an MCS-certified installer (yes, Aira is fully MCS-certified).

If you’re a homeowner ready to swap your boiler for a heat pump, the good news is you might be eligible for extra financial support – on top of the government grant. 

Some of the UK’s biggest banks now offer cashback schemes, and green finance and mortgage options to help cover the cost of a heat pump installation.

In most cases, you can choose your own certified installer. So, you’re not tied to a specific brand or partner, and you’re free to apply when installing an Aira Heat Pump.

And if you want to cut your energy bills by up to 90% with the complete Aira Home Energy System, there are cashback options for solar and home batteries too.

Here’s what’s available right now, how to qualify, and where to apply.

Lloyds Bank – Eco Home Reward

Lloyds is offering £2,000 cashback to eligible mortgage customers who install a heat pump. As one of the largest MCS-certified installers in the UK, Aira qualifies under the scheme.

Key details:

• £2,000 cashback for heat pump installation
• £1,000 cashback for solar panels or a battery
• £500 cashback for completing other eligible home improvements like insulation
• Available to Lloyds mortgage customers applying for a new mortgage, additional borrowing, or switching to a new deal after 31 July 2024
• You can choose your own MCS-certified installer

Learn more about Lloyds Eco Home offers.

Halifax – Green Living Reward

This one’s almost identical to the Lloyds offer. Unsurprising since they’re part of the same banking group. Halifax mortgage customers can claim £2,000 cashback as long as they use an MCS-certified installer. Like Aira. 

And isn’t this nice? You can get a free Energy Performance Certificate (EPC) once your heat pump’s installed. So you can see just how much cleaner and more efficient your home has become.

Key details:

• £2,000 cashback for heat pump installation
• £1,000 cashback for solar panels or a battery
• £500 cashback for completing other eligible home improvements like insulation
• Available for Halifax mortgage customers applying for a new mortgage, additional borrowing, or switching to a new deal after 31 July 2024
• You can choose your own MCS-certified installer

Check out Halifax Green Living offers.

Barclays – Greener Home Reward

Barclays also offers £2,000 cashback to support green upgrades like heat pumps. You’ll need a eligible residential mortgage with the bank and go through a TrustMark registered or Microgeneration Certification Scheme (MCS) certified business. Like Aira. 

Key details:

• £2,000 cashback for installing a heat pump
• £1,000 for solar and home battery storage
• £1,000 cashback for solid wall insulation
• £500 cashback for completing other eligible home improvements like cavity wall insulation
• For Barclays residential mortgage customers
• Don't need to borrow more money or take out a loan from Barclays to be eligible 
• Must use a TrustMark registered or Microgeneration Certification Scheme (MCS) certified business

Explore Barclays Greener Home Reward.

Virgin Money – Green Reward

Virgin Money takes a smaller but still helpful approach, offering £250 cashback for eligible green home improvements, including heat pumps. Unlike the first three schemes, this one’s only available when applying for additional borrowing. The good news? You’re still free to choose your own installer.

Key details:

• £250 cashback for green home upgrades
• Must be applying for additional borrowing to improve your home
• Available to existing Virgin Money residential or buy-to-let mortgages
• You can choose your own installer

Learn more about the Virgin Money Green Reward.

Virgin Money also offers Greener Mortgages, giving customers access to lower rates when buying a new-build home with an A or B Energy Performance Certificate (EPC).

Virgin Money Greener Mortgage info.

Nationwide – Green Reward & Green Additional Borrowing

Nationwide offers two green finance options. One for buyers moving into an energy-efficient home, and another for existing customers looking to upgrade their current one.

Nationwide Green Reward

If you're buying a property with a high Energy Performance Certificate (EPC) rating using a Nationwide mortgage, you could earn up to £500 cashback just for choosing a greener home.

Key details:

• £500 cashback for properties with an EPC score of 92 or above
• £250 cashback for properties with an EPC score between 86 and 91
• Available to first-time buyers and home movers using a Nationwide mortgage
• EPC must be registered on the government’s online EPC register within two weeks of completing the mortgage

Read more about the Nationwide Green Reward.

Nationwide Green Additional Boworring

If you're already a Nationwide mortgage customer and planning to make your home more energy-efficient, the Green Additional Borrowing scheme could help. You can borrow up to £20,000 at a 0% interest rate. Ideal if you’re switching to an Aira Heat Pump.

Key details:

• 0% fixed interest rate for the first 2 or 5 years
• Borrow between £5,000 and £20,000
• No product fees
• Must be used for eligible green improvements, including heat pumps
• You can choose your own certified installer

Learn more about Nationwide Green Additional Borrowing.

Natwest – Green Mortgages and Remortgages

NatWest doesn’t currently offer heat pump cashback, but they do reward energy-efficient homes with their Green Mortgage and Green Remortgage offers.

If you’re buying or remortgaging a property with an Energy Performance Certificate (EPC) rating of A or B, you could qualify for a lower mortgage rate – helping you save while supporting a greener home.

Ideal if you’ve upgraded your home with an Aira Heat Pump and want your mortgage to reflect your home’s improved efficiency.

Key details:

• Reduced mortgage rate on selected 2-year and 5-year fixed-rate Green Mortgages
• Available for purchases and remortgages with an EPC rating of A or B
• Up to 85% loan-to-value (LTV)
• Product fees and early repayment charges may apply
• Offers can be changed or withdrawn at any time

Learn more about Natwest's green mortgage schemes.

Green Homes Wales (Development Bank of Wales)

Live in Wales? You could get extra help making your home cleaner and more energy efficient through Green Homes Wales – a Welsh Government initiative run by the Development Bank of Wales.

The scheme offers interest-free loans, grant funding, and fully funded expert support to help you install upgrades like an Aira Heat Pump or complete Aira Home Energy System, cutting both your energy bills and carbon emissions.

Key details:

• Interest-free loans from £1,000 to £25,000, with repayment terms up to 10 years
• 6-month repayment holiday while your new energy system gets to work
• Grant funding available for eligible energy efficiency measures
• Free expert guidance from a Retrofit Coordinator to assess your home and recommend improvements
• Open to homeowners in Wales (subject to affordability and credit checks)

Learn more about the Green Homes Wales scheme.

A quick note about accredited installers

To access these offers, most banks require you to use an accredited installer, usually one certified by the Microgeneration Certification Scheme (MCS). At Aira, all our installers are fully MCS-certified, so you can be confident your Aira Heat Pump installation meets the highest standards for quality, performance and compliance.