The bank hopes it will encourage energy efficiency-related home improvements
Mortgage holders with one UK bank could bag themselves up to £2,000 for use on green improvements if a trial proves successful. Barclays says it would start paying up to this figure to its mortgage holders to 'pay back' customers who install new insulation, heat pumps or solar panels, among other green solutions.
Speaking to August Graham, business reporter with PA news agency, Barclays chief executive CS Venkatakrishnan, said: “There is a clear need to improve the energy efficiency of UK housing, but as our data indicates, cost remains a barrier to turning desire into action. We hope this pilot will go some way towards encouraging consumers to make energy efficiency-related home improvements.
The full £2,000 will be available for homes installing heat pumps, while those opting for solid wall insulation or solar panels will be able to get £1,000 and a smaller £500 payment will be available for loft insulation or new windows, among other initiatives. Work will have to be performed by a TrustMark-registered business or tradesperson, Barclays said. TrustMark is a Government-backed scheme.
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