The gap in the SEAI grants is timing: the grant arrives after the work, and the work has to be paid for first. This is the scheme built to close that gap, and it is much less known than the grants it sits beside.
Quick facts
- Amount
- €5,000 to €75,000
- Term
- Up to 10 years
- Security
- Unsecured — no charge over the property
- Rate
- Significantly lower than the market, but varies by provider
- Flexibility
- Up to 25% can go on non-energy work
- Condition
- The works must be eligible for SEAI grant funding
What it is
"Government-backed, low-cost loans to upgrade the energy performance of your home."
"You can borrow from €5,000 to €75,000 for a term of up to 10 years. Loans are available through participating finance providers, including banks and some credit unions. Interest rates are significantly lower than those generally available in the market but differ among the finance providers."
Read that last clause before you take the first offer: the rates differ among the finance providers. This is a scheme, not a single product, so it is still worth comparing.
The condition
"The purpose of the loan must be to carry out home energy upgrade works that are eligible for grant funding through SEAI."
So the loan and the SEAI grants are designed to be used together rather than as alternatives — and there is "Streamlined process for grant and loan applications".
The three features that matter
You can draw it before the work starts. "Approved loans can be drawn before works begin for deposits or milestone payments". That is the whole point — contractors want deposits and the grant arrives afterwards.
It is unsecured. "Loans are unsecured (i.e. there is no charge taken over the property as is the case with a mortgage)". Nothing is registered against your home.
A quarter can go elsewhere. "Flexibility to spend up to 25% of the loan on non-energy related works (e.g., redecorating your home)" — which is realistic, since insulating a wall leaves making-good to pay for afterwards.
Who stands behind it
"The Home Energy Upgrade Loan Scheme is established and offered by the Strategic Banking Corporation of Ireland (SBCI), supported by the Government of Ireland. It is guaranteed by the European Investment Fund and European Investment Bank."
That guarantee is why the rate is low. You still borrow from an ordinary bank or credit union, and the usual lending checks apply.
Common questions
How much can I borrow under the Home Energy Upgrade Loan Scheme?
From €5,000 to €75,000, for a term of up to 10 years, through participating banks and some credit unions.
Is the loan secured on my house?
No. The loans are unsecured — there is no charge taken over the property as there is with a mortgage.
Can I use it for anything other than energy work?
Up to 25% of the loan can go on non-energy related works, such as redecorating. The purpose of the loan must be to carry out home energy upgrade works that are eligible for SEAI grant funding.
Can I get the money before the work starts?
Yes. Approved loans can be drawn before works begin, for deposits or milestone payments — which is the main practical reason the scheme exists.
Is the interest rate the same everywhere?
No. Rates are significantly lower than those generally available in the market but differ among the finance providers, so it is still worth comparing offers.