How to get a heat pump for your home

A heat pump is an energy-efficient way of heating your home. If you're eligible, you could benefit from a cashback reward and an energy bill credit, if you make the switch.

 

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 your heat pump installation if you're an eligible Lloyds customer, through our Eco Home Reward.
  • Octopus will check if you qualify for a government grant of up to £7,500 towards your installation.
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.

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, you must:

    • have received a mortgage illustration as part of the full mortgage application process after the 31 July 2024
    • complete an eligible home improvement within 1 year of completing your Lloyds mortgage, additional borrowing or new deal
    • be a residential customer only, the offer excludes buy-to-let applications
    • have a Club Lloyds current account at point of claim – a £5 monthly fee may apply
    • upload your invoice to your Eco Home Reward and send your claim. This invoice must show the following:
      • The name and address where the work was carried out.
      • The invoice number and date.
      • Description of the home improvement.
      • The type of work and the date you completed it.
      • The mortgage account number/roll number. This can be found on your mortgage application and in your online banking account.

    Qualifying mortgage customers can only receive 1 reward per mortgage product.

    UK wide including Northern Ireland.

    Learn about the Eco Home Reward, check eligibility, and upload claim forms through your Eco Home Reward.

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

    • receive a successful claim confirmation in your Eco Home journey
    • schedule an EPC assessment directly with our selected supplier in your Eco Home journey.

    You have 3 months after your claim is successful to book the assessment. You'll also get an extra month for the assessment to happen.

    You must complete the EPC assessment on the same property where you claimed your Eco Home Reward.

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 do heat pumps cost?

Government grants of up to £7,500 towards heat pump installations in England, Scotland and Wales are available.

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.

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

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: Evergreenenergy

Let’s look at the details

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