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.
The bank is running the trial after research showed that while most of the homeowners it surveyed wanted to improve the energy efficiency of their homes, three in four said they couldn't afford changes they want to make within the next five years. Most are only making small-scale improvements which do not cost much up front such as changing old light bulbs for more energy efficient versions.
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."
