Finance your heat pump
Upgrade to cosy, cleaner, cost-efficient heating with flexible payment options over 3-10 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.Up to £9,000 off the installation costs 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 our lender, Novuna, who can arrange loans between 3 and 5 at 6.9% APR, and 10 years at 9.9% APR.
No hidden fees
No arrangement or exit fees. See FAQ’s for charges
Flexible terms
Choose between monthly payment options ranging from 36 to 120 months.
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 a representative example below:
Novuna Finance:
5 years at 6.9% APR
Advance payment: £0
Amount of credit: £4,000
Representative: 6.9% APR
Total term: 60 months
60 monthly payments of £78.64
Total interest: £718.40
Total amount payable: £4,718.40
Novua 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 £200 deposit that's fully refundable until you sign your final installation agreement. 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 ask Novuna to email you a link to start your finance application. 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?
Frequently asked questions
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.
Our lender, 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.
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 our lender (Novuna) directly for any questions relating to your finance arrangement, including cancelling it.
APR stands for Annual Percentage Rate and is the total cost of borrowing over one year. It includes the interest rate plus any fees associated with getting the loan. There are no fees for applying for or taking out a Novuna finance loan.
We can’t advise you on the amount of deposit you should pay or the amount of finance you could apply to borrow. You should take your time to consider which options are best for your particular circumstances. If in doubt, you could consider speaking to Citizens Advice or the Debt Counselling Service who can provide impartial guidance.
The longer term lending options can mean a lower monthly payment but they also increase the amount of interest you’d pay if you were accepted for a loan. You should weigh up carefully whether paying a higher amount of interest in return for a lower monthly payment is the right option for you.
We won’t take away your heat pump under any circumstance, except if it needs to be replaced due to a fault covered under your warranty.
If you’re worried about making your repayments, or your circumstances have changed, it’s important to contact your lender as soon as possible. They may be able to offer support or discuss alternative repayment arrangements based on your situation.
Missing payments could lead to additional charges and may affect your credit file, so early communication is key.
If you’re unsure what to do, you can also seek free, impartial advice from organisations such as Citizens Advice or a debt advice service.
Payments will begin one month after your heat pump installation.
There are no arrangement, exit or early settlement fees.
Novuna may charge for the following:
Recalled Direct Debit Charge: £22.
Returned or Recalled cheques: £25.
Issue of a Default Notice: £25
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.
If you move after your heat pump has been installed, your finance agreement with stays the same. It’s a personal credit agreement linked to you, not the property - so you’ll still be responsible for the repayments, even if you move home.
More on heat pumps
Everything you need to know about heat pumps
What exactly is a heat pump and how does it work?
How much does a heat pump cost to run?
Save £100s per year compared to a gas boiler
Are heat pumps worth the investment?
They’re better for the planet, your home and your wallet too!
Credit is subject to status and affordability.
Octopus Energy Services Ltd acts as a credit broker, not a lender, and is authorised and regulated by the FCA (FRN 1033722).
Finance is provided by Novuna. Novuna is a trading style of Mitsubishi HC Capital UK PLC, authorised and regulated by the Financial Conduct Authority (FRN 704348).
Cosy heat pump customers on the Cosy Octopus tariff saved an average of £224 last year compared to using a gas boiler running at 85% efficiency on our standard variable tariff
This figure is based on the actual energy consumption of all Cosy heat pump customers on a Cosy Octopus tariff between 1 July 2025 and 1 July 2026, using tariff rates at the time.
We compared this to the cost of producing the same amount of heat with a gas boiler operating at 85% efficiency, priced using our Flexible Octopus (standard variable) tariff at the same time.
Savings from gas standing charges were included only for customers who had fully removed their gas supply (less than 3% of customers). Actual savings vary depending on system design, tariff choice, home insulation, and energy use.
Our typical heat pump price is £4,459, which is lower than the national average of £5,600
This is the median post-survey price from all of our heat pump quotes after the £7,500 Boiler Upgrade Scheme has been applied, between 01/09/2025 and 28/02/2026. The national average is taken from the Boiler Upgrade Scheme statistics: April 2026 – median cost of installation Q4 2025.
Cut carbon emissions by 82% with a heat pump
This is the typical reduction in heating carbon emissions using an electric powered heat pump compared to a gas boiler.
The carbon breakdown
Gas CO2 (tonnes per year) - 2.42
Electricity CO2 (tonnes per year) - 0.43
Carbon saving (tonnes per year) - 1.99
Data sources and assumptions
Gas Energy Usage (kWh) 11500 (Ofgem medium use gas usage (Jun 2026))
Heat Pump Efficiency 312% (typical seasonal coefficient of performance from a fleet of Octopus high temperature heat pumps)
Gas Boiler Efficiency 85% (The typical gas boiler efficiency from a BEIS study)
Gas fuel emissions of (gCO2/kWh) 210 (SAP 10.2)
Electricity fuel emissions of (gCO2/kWh) 136 (SAP 10.2)
Based on these sources, heat pumps typically produce lower operational emissions when heating the home than gas boilers.
For more information, explore our Octopus Cosy heat pump fleet performance dashboard.
We're the largest heat pump installer on the Boiler Upgrade Scheme
Based on Octopus benchmarking against Ofgem reports from 2024, and we've continued to grow since.
Our customers love their heat pumps!
- 93% of people say it's the same or more comfortable than their previous boiler
- 87% say it costs the same to run or less
- 83% say it's the same noise or less than the previous boiler
- 90% say it's just as easy or easier to maintain
We survey all our heat pump customers 3 months post-installation to see how they find their heat pump compared to their previous gas boiler. Survey results are taken from a sample of 2,837 customers:
Comfort: 93% of people say it is the same or more comfortable than their previous boiler.
Running Costs: 87% say it costs the same to run or less.
Noise: 83% say it is the same noise or less than the previous boiler.
Maintenance: 90% say it is just as easy or easier to maintain.
A heat pump is around 4x more efficient than a gas boiler
Heat pumps don't generate heat by burning fuel. Instead, they transfer existing heat into your home. This means they can deliver multiple units of heat for each unit of electricity used.
Based on performance data from a fleet of installed Octopus Cosy heat pumps, typical real-world seasonal performance (SPF or SCOP) is around 3.6. This means around 3–4 kWh of heat is delivered for every 1 kWh of electricity used (an effective efficiency of 300–400%). By comparison, typical UK domestic gas boilers operate at around 85% efficiency, delivering approximately 0.85 kWh of heat per 1 kWh of gas used. On this basis, a heat pump can be around 4× more efficient than a typical gas boiler.
All our heat pumps are independently tested by the Building Research Establishment (BRE), with SCOP values published on the Microgeneration Certification Scheme (MCS) product database. Actual efficiency will vary depending on the property, system design, and usage. For more information, explore our Octopus Cosy heat pump fleet performance dashboard.
The UK's most awarded energy supplier
We've won more awards for customer service than anyone else.
Heat pumps give reliable, consistent heating and hot water
The heat pump user survey report by Nesta from May 2023 summarises that "users are highly satisfied with their heat pumps". It states: "People living in England, Scotland and Wales who own their home and use a heat pump to heat it are satisfied that heat pumps are safe, reliable, quiet heat sources that are effective for space heating and producing hot water." Find the full report here.
The Cosy heat pump is quiet
Heat pump sound power levels are verified by an independent, third-party laboratory as part of the testing process for inclusion on the MCS product database. The laboratory verifies the sound power on the A-weighted decibel curve, as A-weighting closely aligns to how humans perceive "loudness".
All heat pumps are measured using EN14511 standards to ensure uniformity across manufacturers and models. Our Cosy 6 heat pump has a verified sound power level lower than many other heat pumps of the same capacity.
Heat pump heating makes the air healthier in your home
Homes with a heat pump emit far less harmful nitrous oxide (NOx) emissions than those with gas boilers and cookers, significantly reducing asthma and other respiratory illnesses. According to the Sustainable Markets Initiative Cleantech Homes report.
A heat pump can add thousands to your property value
Analysis by the Department of Land Economy at the University of Cambridge suggests a 16% value uplift for new-build homes with enough solar and battery storage to eliminate energy bills. A further study of over five million existing properties indicates a 2-3% value increase for existing homes with solar panels or heat pumps (versus like-for-like gas-heated homes), according to the Sustainable Markets Initiative: Cleantech Homes report, 2024.
As of April 2025, the average house price in the UK is £265,497 according to the Land Registry. Therefore, a 2-3% value increase for an average house priced at £265,497 would be between £5,310 and £7,965.
Heat pumps typically last longer than gas boilers
The expected lifespan of a typical gas boiler is 10–15 years. A heat pump typically has a lifespan of 15–20 years, with UK government research indicating an average of around 20 years. Manufacturer Daikin reports similar ranges. Actual lifespan depends on factors such as installation quality, maintenance, usage patterns, and operating conditions.