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Homeowners offered up to £2k to make properties energy efficient

Barclays is offering up to £2,000 to its mortgage holders to make their homes more energy efficient.

The bank is extending its Greener Home Reward scheme that refunds customers for energy-saving home improvements such as insulation, heat pumps and solar panels.

It trialled the project last year and has now extended it to eligible mortgage customers, who have until January 31 2024 to register, and July 31 2024 to make a claim.

The scheme comes after Barclays found many Britons overestimated the cost of energy efficiency improvements.

Loft and roof insulation was estimated to be up to 2.5 times more expensive than the actual cost, a survey of 3,000 homeowners found.

Plus 69 percent of those asked had made changes such as using the heating less due to the energy price crisis.

Nick Stace, head of sustainability and social purpose at Barclays, said: "Our research reveals that the majority of homeowners surveyed say that they have become more aware of their electricity and gas consumption over the last six months, with many of them making small changes to reduce their energy usage.

"More needs to be done to support homeowners in making long-term, larger-scale changes such as fitting solar panels or wall and roof insulation.

"That's why we have decided to extend our Greener Home Reward until the end of January 2024, to support more eligible customers in heating and powering their homes more efficiently."

Barclays Greener Home Reward - who is eligible?

Those with a residential mortgage with Barclays can claim up to £2,000 for selected green home improvements.

Only one claim per property is allowed, and works must be done to the address on the mortgage. That property must also be the mortgage holder's main home.

Work must be carried out by a TrustMark-registered business.

You'll only qualify if you're not in arrears at the time of registration, and works must have been completed between October 25 2022 and July 31 2024. Registration for the scheme ends on January 31 2024.

The money will be repaid into the account where your mortgage payments are taken, so only those who pay their mortgage by Direct Debit are eligible.

Eligible green home improvements include:

  • Heat pumps (up to £2,000)
  • Solar panels (Up to £1,000)
  • Wall insulation (Up to £1,000)
  • Loft, roof, underfloor insulation (Up to £500)
  • Single glazing replacement (Up to £500)

For more information on the Greener Home Reward, including the costs that can be refunded, click here.

Matt Hammerstein, chief executive at Barclays UK, added: "Our research identified myths and misconceptions about how long it takes to make energy efficient modifications and the costs involved, while our extension will also enable us to obtain greater insights to help us develop new products and services for our customers.

"We hope this extension opens the door to more homeowners planning improvements - while also providing a welcome financial boost to help them make changes ahead of next winter."

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Helen Barnett

Helen is a journalist, editor and copywriter with 15 years' experience writing across print and digital publications. She previously edited the Daily Express website and has won awards as a reporter. Read more here.