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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.
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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.
We’ll cover the cost of a heat pump and standard installation by Octopus Energy. You’ll need to qualify for the Boiler Upgrade Scheme - Octopus will check this for you.
You’ll need a Club Lloyds account, a £5 monthly fee may apply.
Check if you can apply or continue application
Other qualifying criteria, terms and exclusions apply. We can withdraw offer without notice at any time.
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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.
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Claim a £100 bill credit with Octopus Energy
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.
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?
Things to consider about heat pumps
Let’s look at the details
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All Lloyds borrowing, mortgage, savings, investment and insurance customers are eligible for the £100 bill credit. Providing their tariff is with Octopus Energy and their heat pump is installed by Octopus Energy.
Register for your heat pump installation through Octopus Energy.
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They'll automatically credit your account within 14 days of your heat pump installation. If you're not an Octopus Energy customer, you need to switch to them for your home energy to get this offer. Octopus Energy can support you to make the switch. As part of their service, they’ll also help you find the right tariff for your new heat pump.
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Register or log in to your Eco Home journey to check you're eligible before you start any work.
After Octopus installs your heat pump, log in to your Eco Home Reward. Just upload your invoice from Octopus Energy as evidence of the installation to claim your reward.
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You’ll get an information pack with a phone number to call if you need to speak to Octopus Energy about your heat pump after installation.
If you use a different installer to Octopus Energy, you’ll need to get in touch with them directly.
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To check if you qualify for the heat pump on us, or to continue your application and find out further information, log in to your Eco Home Journey.
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