Homeowners can get up to £2,000 off heat pumps and home improvements with a mortgage in Halifax
- Lender Halifax has launched the Green Living Reward cashback scheme
- This provides mortgage repayment to people who undergo green home improvement
Households with a mortgage in Halifax can get £2,000 cashback towards a heat pump or £1,000 towards other green improvements to their home.
The bank recently launched a program called Green Living Reward to encourage homeowners to make their homes more energy efficient.
It is available to any current account mortgage customer in Halifax who is taking out a new loan or deal and who wants to make their home greener, warmer and cheaper to run over the next 12 months.
The Halifax cashback is paid back after the home improvement work has been completed. Customers can finance the renovation in any way they prefer.
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For those interested in heat pumps, the biggest discount is the government’s Boiler Upgrade Scheme (BUS), which offers grants of up to £7,500.
The average BUS grant is £5,819 per home and the typical heat pump installed under the scheme costs £13,300.
That means a homeowner in Halifax who takes advantage of the typical BUS grant and installs a heat pump could reduce the total cost of the unit from £13,300 to £5,481.
Halifax cashback offers
£2,000 payback period
£1,000 payback period
- Solar panels (photovoltaic)
- Battery for solar energy storage
£500 payback period
- Biomass pellet boiler
- Solar thermal heating
- Double/triple glazing with A-label (when replacing single glazing)
- Secondary glazing
- Cavity wall insulation (including dividing wall)
- Flat roof insulation
- Insulation of attic and sloping roofs
- Roof in roof insulation
- Smart air stones
- Solid floor insulation
- Solid wall insulation
- Insulation of floating wooden floors
Customers are eligible for Green Living Reward benefits when they complete their mortgage application.
This could be for the purchase of a house or a rental property, refinancing a mortgage, transferring products or taking out an additional advance payment.
After they pay off their loan, they have 12 months to file a claim.
To claim the cashback, customers must fill in some details and upload a copy of their tradesman’s invoice as proof that the work has been carried out.
Once the claim has been submitted, Halifax aims to pay the customer within five business days.
Andrew Asaam, Halifax mortgage director, said: ‘We are committed to helping our customers live in warmer, more energy-efficient homes as we move towards Net Zero. Improving the way older homes are heated, powered and insulated is vital.’
The Green Living Reward offer is available to mortgage customers who apply for a loan in-branch, online, by phone or through mortgage advisors. Bank of Scotland customers can also take advantage of the Green Living Reward offer.
A suitable offer is available for Lloyds Bank mortgage customers.
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