With the aim of helping UK householders to spread the cost of greener home upgrades, Hive has announced a partnership with Zopa, a digital banking business. Customers can now apply for a personal loan from Zopa directly through the Hive website to finance Hive eco-tech such as solar and battery installations.
By enabling financing through Zopa, eligible Hive customers now have the option to spread the cost of installing eco-tech across up to seven years, giving them greater flexibility and confidence when upgrading their homes.
Customers can get a personalised loan quote in three minutes with no impact to their credit score, with most customers accessing their money in under two hours once their loan has been approved. The loans range from £1,000 to £50,000, with a representative APR of 8.9%, with final rates are personalised to each customer’s individual circumstances.
Zopa will provide the regulated lending product and manage the finance journey, including quote, application, credit assessment, loan disbursal and servicing.
Susan Wells, director of EV & solar at Hive, scomments: “Solar is becoming an increasingly attractive option for homeowners looking to lower their energy bills and take greater control of their energy use. But for many, the upfront cost remains one of the biggest barriers.
Our partnership with Zopa helps remove that hurdle by giving eligible customers the option to spread the cost of a solar installation. It’s another way we’re making greener home technology more accessible, helping more households enjoy the benefits of generating their own energy and taking greater control over how they power their homes.”
