If you’re looking for a way to make your home more energy-efficient and reduce your carbon footprint, you might be interested in the Greener Home Reward from Barclays. This is a scheme that offers you cashback when you take out a mortgage or remortgage with Barclays and make green home improvements. In this blog post, we’ll explain how the Greener Home Reward works, what benefits it offers, and how you can apply for it.
What is the Greener Home Reward?
The Greener Home Reward is a cashback scheme that rewards you for making your home more eco-friendly. It’s available to new and existing Barclays mortgage customers who take out a mortgage or remortgage with Barclays and make one or more eligible green home improvements within 12 months of completion.
The eligible green home improvements are:
- Installing solar panels
- Installing an air source heat pump
- Installing a ground source heat pump
- Installing cavity wall insulation
- Installing loft insulation
- Installing floor insulation
- Installing flat roof insulation
- Installing room in roof insulation
- Installing internal wall insulation
- Installing external wall insulation
- Installing double glazing, triple glazing or secondary glazing
- Installing an energy-efficient boiler
You can choose to make one or more of these improvements, depending on your budget and needs. The more improvements you make, the more cashback you can get.
What are the benefits of the Greener Home Reward?
The Greener Home Reward offers you several benefits, such as:
- Saving money on your energy bills: By making your home more energy-efficient, you can reduce your energy consumption and lower your bills. According to the Energy Saving Trust, you could save up to £600 a year by making some of these improvements.
- Reducing your carbon footprint: By using less energy and generating your own renewable energy, you can reduce your greenhouse gas emissions and help fight climate change. According to the Energy Saving Trust, you could save up to 2.7 tonnes of CO2 a year by making some of these improvements.
- Getting cashback: Depending on how many improvements you make and how much you borrow, you can get up to £1,000 cashback from Barclays. You can use this money to cover some of the costs of the improvements or spend it as you wish.
- Enjoying a lower interest rate: If you choose to take out a Green Home Mortgage from Barclays, which is a type of mortgage that offers a lower interest rate for customers who buy or remortgage an energy-efficient property, you can also enjoy a lower monthly payment and save money in the long term.
How can I apply for the Greener Home Reward?
To apply for the Greener Home Reward, you need to follow these steps:
- Check if you’re eligible: You need to be a new or existing Barclays mortgage customer who takes out a mortgage or remortgage with Barclays and makes one or more eligible green home improvements within 12 months of completion. You also need to borrow at least £100,000 and have a loan-to-value (LTV) ratio of 85% or less.
- Choose your mortgage: You can choose any Barclays mortgage product that suits your needs and circumstances, including fixed-rate, tracker, offset and Green Home Mortgages. You can compare different mortgage options on the Barclays website or speak to a mortgage adviser.
- Choose your green home improvements: You can decide which eligible green home improvements you want to make, based on your budget and needs. You can find more information about each improvement on the Energy Saving Trust website or speak to an MCS Accredited installer like us at NXTGEN Energy Ltd.
- Apply for your mortgage: You can apply for your mortgage online, over the phone or in branch. You’ll need to provide some personal and financial details, as well as evidence of the green home improvements you plan to make, such as quotes from installers or Energy Performance Certificates (EPCs).
- Complete your mortgage: Once your mortgage application is approved, you’ll need to complete the legal and valuation process and sign the mortgage offer. You’ll then receive the funds to buy or remortgage your property.
- Make your green home improvements: After completing your mortgage, you’ll have 12 months to make your green home improvements. You’ll need to use accredited installers who are registered with TrustMark or the Microgeneration Certification Scheme (MCS), NXTGEN Energy are accredited by TrustMark and we are MCS Certified Solar PV Installers and also MCS Certified Battery Storage Installers, so we can install your complete Solar PV System to the high standards as set by MCS Certification Standards.
- Claim your cashback: Once your green home improvements are done, you’ll need to submit proof of completion, such as invoices from your installers or updated EPCs, to Barclays within 21 days. You’ll then receive your cashback within 30 days.
Ready to go greener?
If you’re interested in the Greener Home Reward and want to find out more, you can visit the Barclays website at Greener Home Reward | Barclays or contact them directly. You can also use their mortgage calculator to get an estimate of how much you could borrow and how much you could save with a Green Home Mortgage. Whether you’re buying a new home or remortgaging your existing one, the Greener Home Reward can help you make your home more eco-friendly and save money at the same time. So why not go greener today with NXTGEN Energy as we can help you with free advice, a free no-obligation quote and solar PV system design service. Call us today on 01268 928 690 or click on the ‘Enquire Now’ button below to start your solar journey with NXTGEN Energy.
Frequently Asked Questions about the Greener Home Reward
The Greener Home Reward is a scheme that offers up to £2,000 to Barclays UK residential mortgage customers who make energy-efficient home improvements, such as solar panels, insulation, heat pumps, and more.
You can register online by 31 January 2024. You’ll need to provide your mortgage account number, email address, and the type of home improvement you plan to make.
You’ll need to submit your proof of payment and completion by 31 July 2024. You’ll need an invoice that shows your name, address, home improvement type, TrustMark-registered business or tradesperson name, and amount paid. You’ll also need proof of payment and confirmation of completion.
The eligible home improvements are low carbon heating, solar energy, insulation, doors and windows. The amount of reward varies depending on the type of improvement. You can see the full list and the reward amounts on the Barclays web page.
Yes, you need to use a TrustMark-registered business or tradesperson to carry out the home improvements. TrustMark is the only Government Endorsed Quality Scheme that covers the work people choose to carry out in or around their home. NXTGEN Energy Ltd is a TrustMark-registered businesses and is also a MCS Certified Solar PV Installer and also a MCS Battery Storage Installer, so we can install your complete Solar PV System to the high standards as required by MCS Certification Standards.
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