Vaillant and Hiber offer first FCA accredited finance options for heat pumps

With the target to install 600,000 heat pumps each year by 2028 fast approaching, the Lords Environment and Climate Change Committee’s recent inquiry of the Boiler Upgrade Scheme (BUS), together with Vaillant’s own research, has identified that cost remains a key barrier for consumers.

To tackle this challenge, Vaillant has unveiled a first-of-a-kind partnership with Hiber, which will give its Advance members access to the market’s only FCA accredited finance options for heat pumps.

With FCA accreditation available to Vaillant Advance members that subscribe to Plus and Max memberships, all subscription options will enable installers to offer flexible finance options* through hiber, to homeowners looking to install a heat pump in their property.

Available in conjunction with the Boiler Upgrade Scheme (BUS), homeowners can cover the cost of a complete heat pump heating system, including installation. The air source heat pump unit, which includes Vaillant’s award-winning aroTHERM plus, and complementary accessories such as high-recovery cylinders and weather-compensating controls are also covered.

As part of the partnership with Hiber, Vaillant Advance members will be able to offer customers finance as a payment option, directly through the Hiber platform, while the installer is paid in full within five working days protecting their income and minimising risk.

Henrik Hansen, Managing Director for UK & Ireland, said: “While heat pump demand is growing in the UK, the recent findings of the BUS inquiry clearly show that while there is a target set for net zero by 2050, unfortunately uptake of heat pump technology in UK homes has been much slower than anticipated. It’s therefore important the industry looks at the ways it can tackle some of the challenges identified by consumers when it comes to adopting low carbon technology to ensure the target for 600k installs per year by 2028 is achieved. Our latest research of both installers and homeowners found that, for many, cost remains a key barrier.

“To further our ongoing commitment to supporting our loyal installers, and their customers, our partnership with Hiber offers tangible support to help make sure heat pump technology is more widely accessible. For Advance installers the opportunity to also gain the only FCA accreditation for heat pumps on the market, will provide an additional boost to their business credentials, playing an important role in making a low carbon future for the UK’s housing stock a reality.”

Ryan Harmer, Managing Director, at Hiber: added: “Financing options are key to unlocking the increased adoption and installation of heat pump technology in the UK customer’ homes. Our new and exciting partnership with Vaillant takes this one step further. By empowering installers to gain access to valuable training and FCA accreditation, they are not only able to offer flexible financing options to customers, but more importantly they can also unlock increased revenue opportunities, while offering an important point of differentiation in the market.”

Sign up to Advance where you can order your subscription here: www.vaillant.co.uk/advance

*Finance is not provided or arranged by Vaillant, nor does Vaillant provide any advice in relation to the same. All finance arrangements are entered into at the participants’ own risk and Vaillant accepts no liability in relation to the same.