We're always on the lookout for ways to help you cut energy bills and go greener without a huge upfront hit. A fresh tie-up between Hive and Zopa Bank now lets eligible customers apply for personal loans straight through the Hive site to fund solar panels, batteries and other eco upgrades.
The loans cover £1,000 to £50,000 and can be repaid over up to seven years, with a representative APR of 8.9%. Most people get a quote in three minutes and see funds in under two hours once approved.
Susan Wells, Director of EV & Solar at Hive, said: “Solar is becoming an increasingly attractive option for homeowners looking to lower their energy bills and take greater control of their energy use. Our partnership with Zopa helps remove that hurdle by giving eligible customers the option to spread the cost of a solar installation.”
Tim Waterman, Chief Commercial Officer at Zopa Bank, said: “Helping households transition to cleaner, more energy-efficient homes is increasingly important amid volatile energy prices and rising household bills.Yet, for many people, the upfront cost of installing solar panels, battery storage or heat pumps remains the biggest obstacle to making this change and getting the advantage of monthly savings.
“By bringing together Zopa’s best-in-class digital lending experience and customer-centricity with Hive’s expertise in smart home and green energy solutions, we’re removing that barrier. Together, we’re making it easier for millions of homeowners to invest in a greener future through a simple, transparent and fully regulated digital finance journey that helps spread the cost of home upgrades.”
If you're weighing up solar or other home improvements, compare energy deals to see how much you could save once the kit is in. The partnership also aligns with the government's push for more affordable clean tech via its Warm Homes Plan.
Zopa is authorised and regulated by the Financial Conduct Authority and Prudential Regulation Authority.
