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A heat pump can help to cut your home's carbon footprint. If you qualify for our Eco Home Reward, you could claim £1,000 cashback towards the cost of adding one to your home.
They take heat from the outside and move it to the inside:
Even when it’s a bit cold, the ground or air outside can still be warm.
A heat pump uses something called a compressor to extract this warmth.
It can then be used to heat radiators and a hot water tank in your home.
We’ve teamed up with Octopus Energy to help you cut the cost of installing an air source heat pump. If you have a Lloyds mortgage and qualify for our Eco Home Reward, you can claim £1,000 cashback.
And you could get more help with a government grant. Octopus are experts and can advise on the schemes available to you and will even help you to apply.
Visit the Octopus Energy website for a quote and find out how much an air source heat pump might cost.
This depends on a few things. Heat pumps work best in well-insulated homes, so it’s best to check this out before you start thinking about getting a heat pump. An easy way to do this is to find out your home’s Energy Performance Certificate (EPC) rating. If yours is a D or above and it says you have insulation, you should be good to go.
Most heat pumps use radiators to heat your home, just like boilers do. Sometimes, your existing radiators might be too small for a heat pump to work efficiently and will need replacing, but this isn’t always the case. A heat pump usually works well with existing underfloor heating too.
You’ll need some outside space for most heat pumps though. Around the size of a moped is usually enough for an air source heat pump. Ground source heat pumps take up more space than that, as they usually need a trench or borehole digging, plus a room inside for the operating system.
Lloyds is not responsible for the improvements carried out by your chosen supplier. Lloyds releasing the funds to you does not guarantee the quality of work done by the supplier and it is up to you to make sure you are satisfied with the improvements carried out. Lloyds cannot make any guarantee about the costs of the work required or any savings that can be made, and you are responsible for making your own decision.
You agree that Lloyds might contact you with reminders about this Reward and for research purposes.
Lloyds reserve the right to withdraw the Reward at any time.
Help is available if you’re planning on upgrading or replacing your heating system with a new low-carbon one. But it’s different depending on where you live in the UK.