Pilot launched to reward greener homeowners

Barclay’s new and existing residential mortgage customers will be offered up to £2,000 to help them make their homes more energy efficient by installing measures such as new insulation, heat pumps or solar panels. The initiative has been launched as a trial after a survey showed that three in four of their mortgage holders say they cannot afford the changes they want to make in the next five years and believe their mortgage lender should support them. Over 83% of homeowners report that removing price barriers in the form of a cash reward would be most effective in encouraging them to make these changes. As the expected payback period for some home improvements is over 10 years, larger improvements may be overlooked, even if the long-term benefits might be greater.

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