New scheme launches Tuesday

The government-backed Warm Home Loans scheme launched on Tuesday, offering households interest-free or low-interest loans to fund green energy upgrades without upfront costs.

Loans range from seven thousand five hundred to thirty five thousand pounds

Loans range from seven thousand five hundred to thirty five thousand pounds. Air-source heat pumps qualify for up to ten thousand pounds, ground-source heat pumps up to thirty five thousand pounds.

Energy suppliers partner with lenders

British Gas and E.On have partnered with Tandem Bank and Homeserve respectively to offer loans directly to customers at discounted rates compared with high street lenders.

Savings up to five hundred fifty pounds yearly

Installing a heat pump, battery and solar panels could save households up to five hundred fifty pounds a year on energy bills, rising by a further three hundred pounds a year with a time-of-use tariff.

“Energy is an everyday essential that must be affordable for everyone.”

Budget cuts to heat pump grants planned

The chancellor John Healey's budget on Wednesday reportedly includes plans to cut hundreds of millions from the boiler upgrade scheme's five-year budget of two point seven billion pounds, though grants of up to nine thousand…

Multiple lenders join the scheme

Other lenders participating include HTG Finance, Propensio, Secure Trust Bank, Selina Finance, South Manchester Credit Union, Sunsave, The Money Co-op and This Bank, expanding access to affordable green energy loans.