"From this week, Lloyds Bank customers who apply for a mortgage can also apply for a free heat pump installation, provided their home has a C or D-rated EPC. The offer is part of a limited-time partnership with Octopus Energy and runs until November 24. Eligible borrowers must also qualify for the government's Boiler Upgrade Scheme, which provides £7,500 towards the cost of installation."
"Despite generous subsidies, heat pump installations have lagged behind government ambitions. Britain has only around 19 heat pumps per 1,000 homes, far fewer heat pumps than many European nations, and ministers have already scaled back earlier pledges to install 600,000 units a year by 2028. By linking the technology directly to home finance, Lloyds hopes to remove one of the biggest barriers, the upfront cost, while also gathering data on whether mortgage-linked incentives can speed up green retrofits."
Lloyds Bank has partnered with Octopus Energy to cover the full cost of installing air-source heat pumps for eligible mortgage applicants whose homes have a C or D EPC rating, in a limited-time offer running until November 24. Eligible borrowers must also qualify for the government's Boiler Upgrade Scheme, which provides £7,500 toward installation. The scheme removes a major upfront cost barrier and could lower household energy bills. Heat pump uptake in Britain remains low at about 19 per 1,000 homes and government installation targets have been scaled back. The initiative signals a shift toward mortgage-linked incentives to accelerate green home retrofits.
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