Is there a Lender who will accept Domestic R.H.I. payments as repayment of their loan

Mr_Joyce

Hi,

I would like to install a Ground Sourced Heat Pump to replace our existing Oil-Fired Boiler.

This new system will qualify for payments under the Government's 'Renewable Heat Incentive' scheme, that will more than cover the cost of this system.

We cannot go ahead with it yet, however, as I do not have a large enough 'income' for my Bank to consider me for a suitable loan.

This is despite the fact that if I directed the RHI payments solely to repaying my loan, it would be comfortably repaid well within the 7 years that the scheme pays you for !

Therefore, is there a Lender that will allow me to use my RHI payments to directly repay my loan, and so ignore my lack of a suitable 'conventional' income ?

DCFC79

I'd say no but that's as much as I can help, you could ring up some lenders and ask them.

bris

Not a change, circumstances change, they want guarantees not the vain hope you stay in the house for the next 7 years. There are many reasons how your circumstances could change but at least a decent job negates most of it.