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 also support greener living, with rewards for energy-efficient home upgrades or purchases
• Most schemes require you to use an MCS-certified installer (yes, Aira is fully MCS-certified).

If you're a homeowner looking to upgrade their heating by ditching their boiler for a heat pump, the good news is you might be eligible for more financial help beyond the government grant. Some of the UK’s biggest banks now offer cashback and green finance to help cover the cost of a heat pump installation.

And best of all? 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.

Here’s a breakdown of 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.

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
• 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.

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.