Finance your heat pump
Upgrade to cosy, cleaner, cost-efficient heating with flexible payment options over 5-10 years
Heat pumps are transforming how UK homes stay warm - they're ultra-efficient, better for the planet, and could help reduce your energy costs in the long run. With £7,500 off the installation cost with the Boiler Upgrade Scheme and flexible ways to pay, there's never been a better time to switch.
Spread the cost
Pay for your heat pump with monthly payments. We can connect you with Novuna, who can arrange loans between 5 and 10 years at 9.9% APR.
No hidden fees
No arrangement or exit fees. See Novuna’s charges.
Flexible terms
Choose between 60, 72, 84, 96 or 120 monthly payments.
Additional payments
Pay off your heat pump quicker at any time, free of charge.
Quick decision
Fast online application with instant decision.
Representative example
To give you an idea of how a payment plan might look like for you, we’ve provided two representative examples below:
5 years at 9.9% APR
- Price: £4,000
- Advance payment: £0
- Amount of credit: £4,000
- Interest rate: 9.9% p.a fixed
- Representative: 9.9% APR
- Total term: 60 months
- 60 monthly payments of £83.97
- Total interest: £1,038.20
- Total amount payable: £5,038.20
10 years at 9.9% APR
- Price: £4,000
- Advance payment: £0
- Amount of credit: £4,000
- Interest rate: 9.9% p.a fixed
- Representative: 9.9% APR
- Total term: 120 months
- 120 monthly payments of £51.72
- Total interest: £2,206.40
- Total amount payable: £6,206.40
Novuna will still need to check your individual circumstances to give you an accurate quote and will perform a credit check to confirm your eligibility.
How to apply
1. Get a heat pump quote
Pay a fully refundable £200 deposit and then we’ll then contact you to design your perfect heat pump setup and explain the finance options available.
2. We’ll arrange your home survey
We’ll visit your home to check it’s heat pump ready before you apply for finance and sign your installation agreement.
3. Apply for finance
If you'd like to pay by finance, we’ll email you a link to start your finance application with Novuna. They’ll perform a credit check and you’ll be given a quick decision
4. Time for your installation
Once your payment method has been finalised, we’ll book you in for your installation.
Ready for a heat pump quote?
To find out how much a heat pump will cost you, get a quote in less than a minute:
Frequently asked questions
Am I eligible for finance?
To apply for finance, you need to be over the age of 18, work at least 16 hours a week (on a permanent or self employed basis), or be retired with an income. You’ll need to be a UK resident and have lived in the UK for the last 3 years or more. You’ll also need your own bank account, as payments will be made by Direct Debit.
You can still apply for finance if you don’t have your own income but you’ll need to be living with a spouse or partner who meets the affordability criteria and can provide employment details as part of your application.
Will you perform a credit check?
Novuna will perform a soft credit check first. This’ll show on your credit file but won’t impact your credit score, and won’t be visible to other lenders.
If you choose to go ahead with your finance application, a full credit check will be completed. This is known as a hard search and will leave a footprint on your credit file that is visible to other lenders. This could impact your credit score.
What happens if my finance application is unsuccessful or I change my mind?
If you’re refused finance but you'd like to continue with your heat pump installation, no problem! Let us know that you’re able to pay in full and we’ll organise that for you.
If you change your mind about finance, you have 14 days to withdraw from your finance agreement without giving any reason. This period starts from either the day after you make the agreement or the day you receive a signed copy of it, whichever is later. You’ll need to contact Novuna directly for any questions relating to your finance arrangement, including cancelling it.
When do repayments start?
Payments will begin one month after your heat pump installation.
Are there any fees involved?
There are no arrangement, exit or early settlement fees.
Novuna will charge for the following:
- Recalled Direct Debit charge - £22
- Returned or recalled cheques - £25
- Issue of a Default Notice - £25
- Letters sent to you as a result of a breach of your credit agreement - £25
How do I get in touch with Novuna?
The easiest way to manage your account with Novuna is via their website or mobile app. Visit their website to find the best way to contact them.
More on heat pumps
What exactly is a heat pump and how does it work?
Save £100s per year compared to a gas boiler
They’re better for the planet, your home and your wallet too!
Credit subject to status and affordability. Finance is offered through Novuna. Novuna is a trading style of Mitsubishi HC Capital UK PLC authorised and regulated by the Financial Conduct Authority. Financial Services Register no. 704348. Registered Office: Novuna House, Thorpe Road, Staines-upon-Thames, Surrey, TW18 3HP. Registered in Cardiff under company no. 1630491.
Octopus Energy Services Ltd is an appointed representative of Octopus Electric Vehicles Ltd and is a credit broker and not a lender. Octopus Electric Vehicles Limited is authorised and regulated by the Financial Conduct Authority, firm reference number 809736.
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