Credit Card Payment – Section 75 – for heat pump installations
Apologies if this has been raised in the past but I couldn't find anything.
My understanding is that if you pay towards your eventual installation cost with a credit card, even a small deposit, then the credit card company becomes jointly responsible with the installer for the whole cost of the goods and service purchased.
So, should it be an unwritten rule, especially when there seems to be a few get rich quick installers about at the moment, to pay at least the deposit with a credit card?
I guess that's the theory but it could help with some of the tragic cases we are hearing about.
Install 13 April 2024 - 4 Bedroom Brick Detached - Heat Loss 9,281w, Design 45c at -2 - Ecodan 11.2kw R32 - 25L Buffer - 250L Telford Tempest HP DHW - All 16 radiators replaced - Auto Adapt - Mel-Pump app - Octopus Fixed Rate
My experience to date has been that many installers in residential renewables won't accept credit cards.
Luckily our first solar installer did, as they ceased trading before work was due to start. Thanks to Section 75, with just 10 minutes of online form filling we were able to get the full value of the deposit reimbursed in three working days, which illustrated the relevance and value of this process for these kinds of projects.
It was my understanding that only the value of the payments made by credit card are covered by Section 75 in the event that the company defaults on the completed project. Others will have a more informed view than me though.
Mitsubishi Ecodan 11.2kW R32 ASHP; Ecodan DHW cylinder; UFH+rads
20x430W Jinko TOPCON Tiger Neo solar; Luxpower 6+4kW hybrid inverter; 20kWh LFP battery storage
@richard24738 that is the theory. If you've used a credit option, including making part of the payment with a credit card, to finance the installation, you're protected against mis-selling under the Consumer Credit Act. This implies that your bank or finance provider is required to respond to your complaints, offering you an extra method to seek resolution. I've still not heard of any heat pump cases where this has been implemented, but it is an added layer of protection.
Good to hear that SKD was successful with his solar PV.
But as @skd correctly points out, there aren't many installers that accept credit cards – it's all bank transfers.
Pre-order: The Ultimate Guide to Heat Pumps
Subscribe and follow our Homeowners’ Q&A heat pump podcast
Ours (installed in Summer 2022) included an insurance backed guarantee and a deposit protection scheme. Happily we have needed neither.
our solar schene IBG had a £100 excess, as I recall. I considered using that for our solar claim but Section 75 thankfully paid in full.Posted by: @glpinxitOurs (installed in Summer 2022) included an insurance backed guarantee and a deposit protection scheme. Happily we have needed neither.
Mitsubishi Ecodan 11.2kW R32 ASHP; Ecodan DHW cylinder; UFH+rads
20x430W Jinko TOPCON Tiger Neo solar; Luxpower 6+4kW hybrid inverter; 20kWh LFP battery storage
- 26 Forums
- 2,152 Topics
- 47.2 K Posts
- 29 Online
- 5,671 Members
Podcast Picks
Latest Posts
-
RE: Midea ASHP – how to set weather compensation
This is the scope document for my system to follow up o...
By pash44pump , 9 minutes ago
-
RE: Electricity price predictions
@diverted-energy I think perhaps our different viewpoin...
By bontwoody , 8 hours ago
-
RE: is a home battery without an EV worth it?
In fairness when the grant went from £5000 to £7500, wh...
By JamesPa , 9 hours ago
-
@mars That response surely deserves a nomination for Tu...
By JamesPa , 9 hours ago
-
Specifying batteries, pv solar etc using ChatGPT
I thought I'd try to use ChatGPT to specify my requirem...
By Tim441 , 11 hours ago
-
RE: Octopus tariffs - a quick comparison
For our set-up, Octopus GO has been the best option fro...
By ChandyKris , 14 hours ago
-
RE: Ecodan & MelCloud scheduling
When I interviewed Mitsubishi Electric at Installer ear...
By Mars , 16 hours ago
-
RE: Rodents! A word of warning for heat pump owners
@lucia One look at that protection and the rodents will...
By Toodles , 16 hours ago
-
RE: What crazy nonsense are inverter limits and why are they imposed?
@transparent The only reason my DNO knows of these is b...
By Lucia , 21 hours ago
-
RE: A Customer's Lessons Learnt from a Heat Pump Installation in a Large House
🙁🙁🙁🙁🙁
By Lucia , 21 hours ago
-
What is the Heat Geek Guarantee?
We regularly hear from homeowners who are researching i...
By Mars , 2 days ago
-
RE: Help me keep the faith with my air source heat pump installation
@adamk, interesting point. I’ve not focused much on Hea...
By Mars , 23 hours ago
-
Intelligent Octopus Flux (IOF) Review
I promised @toodles that I would provide an update and ...
By Old_Scientist , 1 day ago
-
RE: Solar Power Output – Let’s Compare Generation Figures
@julianc Our solar PV has produced more this August tha...
By Toodles , 2 days ago
-
RE: Who's your electricity provider and what's your tariff?
I am pleased to see the change. We definitely need t...
By Jeff , 2 days ago
-
RE: How Do I Know When the Hot Water Has Run Out?
@transparent that is a very interesting suggestion, tha...
By GrahamF , 3 days ago
-
RE: The good, the bad and the not that great – my heat pump installation
Sorry to resurrect this thread, but it is sort of relev...
By cathodeRay , 4 days ago
-
RE: Getting the best out of a heat pump - is Homely a possible answer?
I missed your 22nd June post on this. I am sure it can ...
By cathodeRay , 4 days ago
-
Now posting on the right topic.... With general build...
By benson , 4 days ago