How to get a heat pump for your home

A heat pump is an energy-efficient way of heating your home. Qualifying Lloyds mortgage customers could get a heat pump on us - including energy bill credit. Alternatively, you may be able to benefit from our Eco Home Reward offer.

 

Start your heat pump journey

We’ve teamed up with Octopus Energy to help cut the cost of installing a heat pump. Octopus are installing in England and Wales at the moment.

Our latest offer includes:

  • £100 Octopus bill credit for Lloyds customers when you choose an Octopus Energy tariff and Octopus install the heat pump.
  • £2,000 cashback on heat pump installations for eligible Lloyds customers, through our Eco Home Reward. Use Octopus or any accredited installer.
  • Octopus will check if you qualify for a government grant of up to £7,500 towards your installation.
  • Accepted your first illustration for a new Lloyds mortgage or deal between 15 Oct and 24 Nov 2025? You could get a heat pump on us.​

Register with Octopus Energy

  • Lloyds isn’t responsible for the improvements carried out by your selected supplier. Lloyds releasing the money to you doesn’t guarantee the quality of work done by the supplier. It’s up to you to make sure you’re happy with any improvements carried out. Lloyds can't guarantee the costs, savings or affect on your EPC rating. You’re responsible for making your own decision.

    You agree Lloyds might contact you with reminders about this Reward and for research purposes.

    Lloyds reserves the right to change or withdraw the Reward at any time.

Get a heat pump on us

If you accepted your first illustration for a new Lloyds mortgage or a new deal between 15 October and 24 November 2025, you could get a heat pump on us. 

  • Lloyds will pay for a standard heat pump installation by Octopus Energy. 

    Standard installation includes: 

    • an air source heat pump (Octopus Energy Cosy 6, Cosy 9, Cosy 12 or Daikin)
    • a compatible hot water cylinder
    • necessary radiators for your system and design
    • plumbing, pipework and electrical work to Octopus Energy design standards
    • asbestos testing, not including removal if needed
    • an 8-year product warranty (Cosy) or 5-year warranty (other brands)
    • a 5-year labour and workmanship warranty
    • a dedicated Octopus Energy support team from quote to installation.

    Additional works

    • Some homes may need extra work, such as groundworks or asbestos removal to allow for heat pump installation. Octopus Energy will tell you if additional works are required.  This could mean that you need to take action to qualify for a standard installation or that you no longer qualify for this offer.
    • If you no longer qualify for this offer and you still want to go ahead and self-fund a heat pump installation, we can offer £2,000 cashback as part of the Eco Home Reward.

    Installation and suitability:

    • Octopus Energy will visit your home to check whether it’s suitable for a heat pump. 
    • If your property is leasehold or shared ownership, you must get consent from your landlord.
    • If your home isn’t suitable the installation won’t go ahead.
    • Installation must be completed within 1 year of your mortgage completion date. If the heat pump isn’t installed within this timeframe, you’ll be responsible for covering the full cost of the heat pump and its installation.

    Responsibilities and liabilities:

    • Lloyds is not responsible for installation or home improvements.  
    • It’s important that you feel confident the installation is right for your property and your needs. 
    • We recommend reviewing the details carefully and asking any questions before going ahead. 
    • You’re responsible for making your own decision whether to go ahead with the installation. 
    • Octopus Energy is your point of contact for support, maintenance and warranty. 
    • Energy savings or EPC (Energy Performance Certificate) improvements aren’t guaranteed.

    Exclusions

    • If Octopus Energy assesses that additional works are needed that fall outside the scope of this offer, such as groundworks or asbestos removal, you’ll need to arrange and pay for these before the installation can go ahead.
    • You can’t claim the Eco Home Reward cashback for the heat pump installation under this offer. You also can’t claim the Eco Home Reward cashback for any additional work needed for the installation of the heat pump under this offer. But, if you meet the Eco Home Reward criteria, you may still claim cashback for other qualifying home improvements, such as solar panels or insulation, alongside this offer.
    • Certain types of properties such as flats, listed buildings and properties without suitable outdoor space or with incompatible heating systems may not be eligible. Octopus Energy will tell you if your property qualifies.
    • This offer is subject to availability and can be changed or withdrawn without notice at any time. If we withdraw the offer, we’ll put a notice on our website.

    Data protection and communication

    By applying, you consent to Octopus Energy sharing your personal data with Lloyds Banking Group for the purposes of reporting and fulfilling the order. Read more about Octopus Energy's privacy policy.

  • What is the heat pump and installation offer?

    It’s a limited-time offer for qualifying Lloyds mortgage customers to get an air source heat pump and standard installation, helping you to be energy efficient and make carbon savings.

    Do I qualify if I'm borrowing more?

    If you're switching to a new deal at the same time as borrowing more, you’ll qualify. However, if you're only borrowing more without switching your deal to a new rate, you won't be eligible. 

    How long do I have to install the heat pump?

    To benefit from the offer, installation must be completed within 1 year of your mortgage completion date. If the heat pump isn’t installed within this timeframe, you’ll be responsible for covering the full cost of the heat pump and its installation.

    Do I have to pay anything?

    We cover the full cost of a standard installation, this includes: 

    • an air source heat pump (Octopus Energy Cosy 6, Cosy 9, Cosy 12 or Daikin)
    • a compatible hot water cylinder
    • necessary radiators for your system and design
    • plumbing, pipework and electrical work to Octopus Energy design standards
    • asbestos testing, not including removal if needed
    • an 8-year product warranty (Cosy) or 5-year warranty (other brands)
    • a 5-year labour and workmanship warranty
    • a dedicated Octopus Energy support team, from quote to installation.

    If Octopus Energy assesses that extra works are needed, for example, planning permission or groundworks, you’ll need to arrange and pay for these before the installation can go ahead. Lloyds will then cover the costs for standard installation. 

    Who installs the heat pump?

    Octopus Energy will handle the installation. Octopus Energy will also be your main contact if you need support after it’s installed.

    What’s included in the installation?

    The air source heat pump, a compatible hot water cylinder, any necessary radiators and all the plumbing and electrical work needed to get it up and running.

    Is a heat pump right for my home?

    This depends on a few things. We recommend you research if this is right for you. You can learn more on Octopus Energy’s website.

    What if my home isn’t suitable?

    Octopus Energy will complete a property suitability check to confirm whether your home qualifies for a standard installation.

    If your home is not suitable, you won't be able to get the offer. In some cases, Octopus Energy may identify extra works, such as groundworks or asbestos removal, that you’ll need to complete in order to qualify for standard installation. Octopus Energy will let you know what’s needed.

    Will this reduce my energy bills?

    Heat pumps are energy efficient, but savings vary depending on your home and how you use energy. We can’t guarantee lower bills or changes to your EPC rating.

    What if something goes wrong with the heat pump?

    We want you to feel confident in your new heat pump. Octopus Energy has the following warranties:

    • An 8-year product warranty for a Cosy heat pump.
    • A 5-year product warranty for other brands' heat pumps.
    • A 5-year labour and workmanship warranty on all installations.

    If anything isn’t working as expected, Octopus Energy will be there to help resolve it quickly and professionally. 

    Can I change my mind?

    Yes. You’re free to opt out at any point before installation begins.

    Is this offer for anywhere in the UK?

    No. You can only get this offer for properties in England.

    How long do I have to take up the offer?

    The offer is time-limited and subject to availability. We recommend acting quickly if you're interested.

    Do I need to apply for the Boiler Upgrade Scheme grant myself?

    No. Octopus Energy will apply for the grant and claim for it on your behalf.

    What if I don't qualify for the Boiler Upgrade Scheme grant?

    You will not qualify for this offer if you can't claim the Boiler Upgrade Scheme grant.

    Do I need a valid EPC to qualify?

    Yes. Your property must have a valid EPC with a rating of C or D to qualify.

    Can I also claim the cashback offer?

    The Eco Home Reward cashback offer cannot be claimed with the heat pump installation offer. If you meet the eligibility criteria for the Eco Home Reward, you may still be able to claim cashback for other qualifying home improvements, such as solar panels or insulation, alongside this offer.

Claim a £100 bill credit with Octopus Energy

How it works

Through our partnership with Octopus Energy, we’ve made installing air source heat pumps easier and more affordable for our customers.

Get a quote

Enter a few details to get a tailored standard installation quote. Once happy, Octopus will take a £200 deposit that’s fully refundable until installation. If you choose to get a quote, we’ll take you to the Octopus website.

Register with Octopus

Home survey and design

Octopus will take some measurements. They'll check if your home is suitable. If necessary, they'll identify any extra work and design a tailored heating system for you.

Get £100 Octopus credit

Your energy tariff with Octopus will get a £100 credit on your energy bill. It will apply automatically within 14 days of your heat pump installation.

Eligible Lloyds mortgage customers can also claim £2,000 cashback.

Eco Home Reward for Lloyds mortgage customers

Register or log in to your Eco Home Journey to check you’re eligible before you start any work.

 

£2,000 cashback for heat pumps

If you're a Lloyds mortgage customer, you could receive £2,000 cashback. This offer applies when you install a heat pump. You can use Octopus Energy or any accredited installer. This cashback is part of our Eco Home Reward.

Once your installation is complete, simply send a claim to get your cashback. All Eligible mortgage customers also get a free Energy Performance Certificate (EPC) once your installation is complete.

Check if you qualify, and upload your invoice through your Eco Home Reward.

Eco Home Reward

  • To qualify for the Eco Home Reward, you must:

    • have completed on your mortgage, additional borrowing or deal switch in the last 12 months
    • be a residential owner-occupier of the property. This reward excludes buy-to-let properties.

    Once you have completed, you’ll have a year to complete your qualifying home improvement and submit a claim along with a final and paid invoice.

    You can see your claim deadline in your Eco Home Reward account, where you’ll also have the option to request a 60-day extension if needed.

    You can only claim for one improvement for each new mortgage, additional borrowing or new deal.

    Your invoice will need to show: 

    • your full name
    • the address where the work was carried out
    • the installer’s name and address
    • a full description of the completed work
    • the invoice date
    • the total amount
    • that the work has been paid in full or details of any payment plan that’s been entered into.

    To redeem the free Energy Performance Certificate (EPC) offer, you must:

    • receive a successful claim confirmation in your Green Living journey
    • schedule an EPC assessment directly with our chosen supplier in your Green Living journey.

    You’ll have 3 months following a successful claim to schedule the assessment. There’ll be an additional month window on top of this for the assessment to take place.

    The EPC assessment must be completed on the same property you claimed your Reward on.

    Other important information

    Lloyds isn’t responsible for the improvements carried out by your chosen supplier. Lloyds releasing the funds to you doesn’t guarantee the quality of work done by the supplier. It’s up to you to make sure you’re satisfied with any improvements carried out. Lloyds can’t make any guarantee about the costs of the work needed, any savings that can be made, or the impact on your EPC rating. You’re responsible for making your own decision.

    You agree Lloyds might contact you with reminders about this Reward and for research purposes.

    Lloyds reserves the right to change or withdraw the Reward at any time.

You could lose your home if you don’t keep up your mortgage repayments

You may qualify for a £7,500 government grant

England and Wales

The government Boiler Upgrade Scheme (BUS) offers grants of up to £7,500 to replace gas, oil and electric boilers and heating systems. Replacing them with more energy-efficient options, including heat pumps. Homes must meet certain EPC standards. Other conditions to qualify may apply.

If you decide to use Octopus, they'll take care of this for you.

Scotland

Home Energy Scotland offers grants for energy-saving home improvements. You can receive up to £7,500 for heat pumps and another £7,500 for energy-efficient upgrades, like insulation. The total amount you can get depends on the improvements you choose to make.

What are the benefits of air source heat pumps?

Reduce your energy use

Heat pumps are 3 times more efficient than a gas or oil boiler. This could help reduce your energy use.

Get lower energy bills

Depending on the heating system you're replacing, you may reduce your energy bills.

Improve your carbon footprint

Your CO2 emissions should be lower with a heat pump compared to other types of heating that use fossil fuels. 

Source: Energy Saving Trust

Things to consider about heat pumps

Are they right for my home?

Heat pumps work best in well-insulated homes. An Energy Performance Certificate (EPC) rating will give you a better idea if they are suitable. If your home is rated D or above and the report says you have enough insulation, you should be good to go. Octopus might still be able to help you get heat pump ready.

Many heat pumps heat your home using radiators, just like boilers. Sometimes, your existing radiators aren't large enough for a heat pump to operate effectively. This means you might have to replace them.

If you have underfloor heating, a heat pump usually works well.

You’ll also need some outside space for an air source heat pump. Around the size of a moped is usually enough. Ground-source heat pumps take up more space, as they might need a trench or borehole. They also need a room inside for the operating system.

Find out more on how heat pumps work on the GOV.UK.

How much is a heat pump?

You could get a heat pump on us. Log in to check if you qualify or to continue your application.

Or you could claim £2,000 cashback after your installation if you're eligible for the Eco Home Reward.

The cost of heat pump installation depends on the size of the system and whether your radiators need upgrading too. Larger homes or more difficult installations can cost more.

Government grants of up to £7,500 could help cover heat pump installation costs.

Do heat pumps need maintenance?

You could expect your heat pump to last for up to 20 years. A well-installed heat pump should need relatively little maintenance.

Source: Your Heat Pump questions, answered | Octopus Energy

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