Learn about financing your air source heat pump.

Yes, you can pay off your finance early or make extra payments if you want to reduce the balance sooner. All you need to do is contact your credit provider, HomeServe Finance Limited, who will calculate and provide an up to date settlement figure. This shows exactly how much is left to repay, including any interest due up to the settlement date.

You can get your settlement amount or discuss overpayments by contacting HomeServe Finance directly:

• Email: ukcustomersupport@homeservefinance.com

• Phone: 0330 808 9277 (Monday to Friday, 9am–5pm).

HomeServe Finance will talk you through your options and explain how early repayment or overpayments might affect the remaining term or interest.

When you settle your loan early, you bring the credit agreement to an end by paying the remaining balance along with any interest that has accrued up to the settlement date. Once the settlement payment is made:

• The agreement is closed and no further monthly payments will be taken.

• Interest stops from the date the settlement amount is paid.

• You may reduce the total cost of borrowing, as settling early can lower the amount of interest paid over the full term (for interest-bearing loans).

• You will receive confirmation from HomeServe Finance that your account has been fully settled.

• Your Direct Debit will be cancelled once the settlement has been processed, so no additional payments are collected.

The first payment is taken on the payment date you choose during your loan application, when you set up your Direct Debit. This date is fully selected by you, so you know exactly when your repayments will begin.

After the application is completed, you will receive a confirmation email which clearly states your chosen payment date and the monthly amount.

When you overpay your monthly amount, the extra money goes directly toward reducing your outstanding loan balance, which can shorten the length of your agreement and reduce the total interest you pay (for interest bearing loans). It doesn’t change your regular monthly instalment.

Homeserve Finance can be contacted by email on ukcustomersupport@homeservefinance.com or call them on 0330 808 9277.

To apply for this product you need to meet the following eligibility criteria:

• Be a minimum age of 21 when you apply and under 79 years at the time the agreement ends.

• Be a UK private resident with at least 3 years continual address history and be a named owner of the property where the product is to be installed.

• Have a minimum individual income of £12,000.

• Have income that comes through permanent employment (including self employment) of at least 16 hours per week, or other means such as pension or rental income.

• Make payments by Direct Debit and have a UK bank account held in your name that supports Direct Debits.

• Have a good credit history.

• Have a valid email address.

• I have not received other government funding for this work, except a BUS or Home Energy Scotland Grant.

• I agree the Government may inspect the property and installation to verify the work completed.

When applying for finance you will need to provide:

• Full name.

• Telephone number.

• Email address.

• Date of birth.

• Residential status and address details (last 3 years).

• Employment status and annual income.

• Bank account details.

No, paying a deposit is optional. You can choose to pay a deposit if you’d like to reduce the amount you borrow and your monthly repayments. The deposit amount can be adjusted to suit your needs, subject to any maximum limits that may apply.

Yes. As part of your application, HomeServe Finance will carry out checks to assess your eligibility and affordability.

Once you press 'Complete application', you agree to a credit check. This continues as a soft search, which is not visible to other lenders.

It will only leave a footprint on your credit file if your installation is completed and the loan begins. If you decide not to proceed, it stays as a soft search.

In most cases, you’ll receive a decision within seconds of submitting your application. If the lender is unable to make an instant decision, your application may be referred for further checks.

This can happen if the lender needs additional information or verification. If this happens, the lender may contact you for more information before making a final decision. All applications are subject to status and affordability checks.

If your application is approved, you’ll be asked to review your personalised credit agreement. You’ll need to carefully read and electronically sign this agreement before moving forward. Your loan will not start immediately. It will only begin once:

• Your product has been successfully installed; and

• You have confirmed that you’re happy with the installation by signing a completion or satisfaction note; or

• If we do not receive your signed satisfaction note after installation, we will attempt to contact you to follow up. If, after these attempts, we do not receive a response, your finance agreement will be activated on the basis that the installation has been completed. If you have any concerns about your installation, you should let us know as soon as possible so we can address them before your finance agreement begins.

Only after this will your agreement go live and your repayments begin. You’ll then receive a welcome email with full details of your loan and information on how to manage your account going forward.

Your finance agreement is personal to you and isn’t linked to your property. This means it won’t transfer to the new owner if you move home.

If you decide to move, you’ll need to settle your outstanding balance in full.

We understand that moving home can involve a lot of planning, so please contact HomeServe Finance as early as possible to discuss your options.

You can get in touch by email at ukcustomersupport@homeservefinance.com or by calling 0330 808 9277.

It’s a UK Government scheme designed to make low-carbon home upgrades (like solar panels, home batteries and heat pumps) more affordable. Approved lenders, like HomeServe Finance, are provided with Government funding, which allows them to offer lower interest rates or longer interest-free finance terms to its customers.

Government funding is used to “buy down” part of your loan. For interest-bearing plans this enables lenders to reduce interest rates, and for plans already at 0% it can fund a longer interest-free term.

No, it’s completely optional. If you’re happy with your current agreement, you don’t need to do anything, so it’ll continue exactly as it is.

Yes, you can. But as part of the application the lender will undertake a new a new affordability and credit check. If the monthly amount you’re paying under the new interest free agreement is higher than your existing interest bearing agreement, then the lender will check if it's affordable. 

As a responsible lender, this helps HomeServe Finance make sure the new loan is right for you, but also means that a new finance offer is not guaranteed. This credit check will not be visible to other lenders unless you decide to go ahead and take out the new loan.

Switching may require a new finance application, including a new credit check and affordability assessment. That check will not be visible to other lenders unless you go ahead and take out the new loan.

The equipment you’ve chosen will stay exactly the same. Only the finance behind it would change. If you switch between Interest Free and Interest Bearing loans, your existing finance agreement will be cancelled. You’ll then need to make a new finance application through HomeServe Finance, which includes a new soft credit check and affordability assessment. 

As a responsible lender this helps HomeServe Finance make sure the new loan is right for you, but also means a new finance offer isn’t guaranteed. This credit check will not be visible to other lenders unless you decide to go ahead and take out the new loan. Your installation date may be affected by this type of switch.