We take pride in supporting our installers to make heat pump technology more affordable and within reach for everyone, that’s why we’re proud to partner with Hiber.
Offer 1
0% interest loan for 12 months
Offer your residential customers an interest-free loan to buy a Daikin air source heat pump
Market-leading 0% interest loan for 12 months on all air source heat pumps installed under the Boiler Upgrade or Home Energy Scotland Schemes where the customer pays a 20% deposit or more.
What does this mean for installers?
You’ll be able to offer your residential customers a highly attractive finance option when they buy a Daikin air source heat pump. The 0% interest loan is a market-leading proposition that will put you ahead of your competitors.
By being able to provide an interest-free loan, you’ll be able to reach a greater proportion of the market. Including those homeowners who may not have the savings in place to buy a heat pump upfront.
What does this mean for residential customers?
Homeowners can now get a new Daikin air source heat pump with an interest-free loan to cover the costs.
Heat pumps have already become much more affordable in England and Wales thanks to the increased Boiler Upgrade Scheme grant of £7,500. And now, Daikin can offer 0% interest for 12 months, making the proposition even more attractive.
What is a 0% interest loan?
An interest-free loan means that homeowners can borrow the money to buy a heat pump without any extra costs. Your customers can pay the loan back over 12 months, without any interest being added during that period.
The great thing about a 0% loan is that understanding repayments is easier. Since the customer is borrowing a fixed amount over time, and there is no interest, it is easy to understand the monthly charges. This makes planning and budgeting easier.
The offer is only available where customers pay a deposit of at least 20%.
Representative example: 0% interest finance option
Here’s a representative example of how the 0% interest loan might work based on an average total figure of £13,100 to purchase and install a Daikin air source heat pump.
| Daikin air source heat pump: | £13,100 | Loan interest rate | 0% |
| 20% deposit: | £2,620 | Payment term | 12 months |
| Boiler Upgrade Scheme grant: | £7,500 | Monthly payments | £248.33 |
| Finance amount required: | £2,980 | Total amount payable | £2,980 |
What are the details of the agreement?
Your customer just needs to cover a 20% deposit and use the Boiler Upgrade Scheme grant of £7,500. Then they can repay the loan over the next 12 months, with no interest added.
The promotion is running for a limited period: 30 October 2023 – 30 April 2024, so don’t delay on this limited-time opportunity.
Offer 2
APR 6.9% interest loan for 36 months
Spread the cost of the heat pump over three years, with a competitive interest rate to help keep costs down
Highly competitive APR 6.9% interest loan, allowing homeowners to spread the cost of their air source heat pump over three years installed under the Boiler Upgrade or Home Energy Scotland Schemes where the customer pays a 20% deposit or more.
What does this mean for installers?
This longer-term loan spreads the upfront cost of purchasing and installing an air source pump for your residential customers. It means you can now speak with homeowners about installing a brand-new heat pump for less than £100 per month.
The lower monthly payment amount will extend your residential customer base further, providing an affordable solution to bring to the table.
What does this mean for residential customers?
The extended 36-month loan period means that homeowners can get a heat pump for even lower monthly costs than with a 0% interest loan. Our example shows the average payment will be less than £100 per month.
With the majority of the costs already covered by the Home Energy Scotland Scheme and the increased Boiler Upgrade Scheme grant of £7,500, in England and Wales, an air source heat pump is now a highly attractively priced home heating solution.
The offer is only available where customers pay a deposit of at least 20%.
Representative example: APR 6.9% interest finance option
Here’s a representative example of how the APR 6.9% interest loan might work based on an average total figure of £13,100 to purchase and install a Daikin air source heat pump.
| Daikin air source heat pump: | £13,100 | Loan interest rate | APR 6.9% |
| 20% deposit: | £2,620 | Payment term | 36 months |
| Boiler Upgrade Scheme grant: | £7,500 | Monthly payments | £91 |
| Finance amount required: | £2,980 | Total amount payable | £3,276 |
What are the details of the agreement?
Your customer just needs to cover a 20% deposit and use the Boiler Upgrade Scheme or Home Energy Scotland Scheme. Then they can repay the loan over the next 36 months, at an APR interest rate of 6.9%.
The promotion is running for a limited period: 23 October 2023 – 30 April 2024, so don’t delay on this limited-time opportunity.
Who can apply for heat pump finance?
Your residential customers can apply for finance to pay for their air source heat pump if they meet the following criteria:
- Minimum age of 18 at date of application.
- Maximum age of 85 at the end of the agreement, unless the term is no more than 12 months, in which case there is no maximum age limit.
- UK residence for a minimum of the last 3 years.
- Have a mobile phone number.
- Have a valid email address.
- Be employed, self-employed, retired, in receipt of disability allowance or a homemaker.
- Have a bank account in your name and for which you are the only signatory required to authorise monthly direct debit payments.
- Have an individual gross income of £10,000 or more, or a joint income of £10,000 or more if married, living with a partner or in a civil partnership.
- The air source heat pump is installed by an MCS accredited installer using funding from Boiler Upgrade or Home Energy Scotland schemes.
- Pay a minimum deposit of 20% of the installation price, before the Boiler Upgrade Scheme or Home Energy Scotland funding is deducted.
Five steps to offer finance options
Just follow these five easy steps to offer an interest-free loan to your residential customers:
- Register with our finance partner Hiber by visiting hiber.com/daikin
- Log in to the online portal, add the customer as a lead and send them a quote. The customer can then accept the quote.
- When you receive notification of the customer’s acceptance of the quote, the finance options can be sent to the customer to apply for the finance offer.
- Once the finance has been approved, the installation can be booked in.
- When the work is complete and the customer satisfaction note is signed, you'll get paid within five working days. No more chasing around for payments needed!
How does Hiber work?
Experience the convenience of Hiber's user-friendly online platform, allowing you to swiftly generate and send quotes, provide your residential customers with finance payment options, and schedule installations once they’ve been approved. Plus, enjoy the benefit of receiving payment within just five business days after the job is finished, eliminating the need to worry about chasing payments.
Standard
£12/month
(or discounted at £120/year)
Win every install with less work
- Streamlined quoting tool
- Can quote using BUS scheme
Feel in control
- All your customers in one place
- Send invoices with payment links
- Take card payments
Limited access to customer finance
- Can't promote or discuss finance
- No FCA accreditation
Plus
£30 onboarding fee
then £39/month once FCA approved
(or discounted at £450/year)
Feel in control
- Streamlined quoting tool
- Send invoices with payment links
- Take card payments
- Can quote using BUS scheme
Access to consumer finance
- Introduce finance as an IAR
- Become FCA accredited
Max
£30 onboarding fee
then £49/month once FCA approved
(or discounted at £550/year)
Feel in control
- Streamlined quoting tool
- Send invoices with payment links
- Take card payments
- Can quote using BUS scheme
Sell consumer finance
- Sell finance as a full AR
- Become FCA accredited
The terms explained
An Introducer Appointed Representative (IAR) is a firm that is authorised by a regulated principal to introduce potential customers to the principal's financial services or products. However, IARs are limited in their scope and activities compared to full-scope Appointed Representatives.
The key distinction for IAR‘s is that they can’t provide advice or directly sell financial products themselves. Instead, they act as intermediaries, facilitating initial contact between potential customers by introducing finance and directing them to the principal firm.
An Appointed Representative (AR) is a firm who runs regulated activities in the UK by acting under a directly authorised firm who is a principal. This arrangement allows installers to offer financial services and products under the regulatory umbrella of the principal.
Sign up to Hiber today
To make things even easier, Daikin installers get £120 off their first year’s membership of Hiber. This makes the standard membership free for the first year. With the plus and max plans, you'll get £120 off the yearly subscription.
Sign up to the hassle-free platform today, using the discount code below to claim your 12 month’s discounted access:
Standard: daikinstandard120
Plus: daikinplus120
Max: daikinmax120
In order to be eligible you will need to:
- Have been trading at least 2 years
- Have a credit Safe score of 40
- Have a valid MCS certificate
- Have a valid membership certificate for RECC or HEIS
- Have valid public liability insurance
In order to apply you will need:
- To provide basic company info and user I.D’s
- To setup subscription and provide your business bank details
- To sign Hiber’s service contract
- To complete the relevant training modules
Terms and conditions apply, subject to a 20% customer deposit and either a BUS or HESS grant.
Offer your residential customers competitive finance options on their Daikin heat pump, and unlock a wealth of opportunities
Finance is not provided or arranged by Daikin, nor does Daikin provide any advice in relation to the same. All finance arrangements are entered into at the participants’ own risk and Daikin accepts no liability in relation to the same. Hiber is a trading name of Koze Group Ltd who are authorised and regulated by the Financial Conduct Authority (FRN 811281) registered in England (08357963). We offer finance products from a panel of lenders. Credit subject to age and status.