Don't qualify for a grant? You could get a boiler on finance.
If you don't qualify for any form of funding, or the grants have ended in your area, getting a boiler on finance via a competitive finance plan is something which you should certainly consider. The large lump sum (typically £1,500-£3,000) can broke down in to smaller, manageable payments. You won't even need to pay a deposit.
We've partnered with Heatable, a price comparison website which allows you to get instant online quotations without the need for a home survey. It's fast to use, easy and free.
Not many people have £1,500-£3,000 knocking around in their savings, so when your boiler decides to give up, it can be quite a struggle to find the funds for a replacement. That's where boiler finance comes in, it's a live saver for many.
When you see someone driving a brand new car, they've probably not paid outright for it. They will have taken out a finance plan to spread the cost over a number of months, or even years. Now, thanks to new offerings, the same can be done with your boiler. It's really easy to apply, there's no complicated forms to fill in, and you can see if you qualify for boiler finance in a matter of minutes - it really is that easy.
Head over to heatable.co.uk and run through the quick online form. Once that's done, you'll be presented with a range of quotes from installers in your area and likely monthly payments. Book a survey or call one of the installers, and they'll be able to get the ball rolling.
You will need to be in some form of employment (part, or full time), and have a relatively good credit score (don't worry if it is not perfect!). If you've had a large number of CCJ's or defaults on cards, or your mortgage, you probably won't qualify for a typical rate (like 0%, or 9.9%). However, there are boiler still finance companies who can help, but the interest rate will be higher due to the risks involved.
In order to see if you will qualify for a boiler on finance, you'll need to obtain some quotes and find a company which specialises in finance. Not every boiler installer is able to offer finance, so we'd recommend heading over to heatable.co.uk and click "Pay Monthly" on their form. This will bring through a list of companies in your area who can help with finance.
Once you've found a quote and monthly price that you're happy with, simply call the installer, or request a home survey. In most cases, the installer will be able to give you an answer over the phone and let you know if you can qualify.
If you like, you can put money towards your new boiler (it will help to keep the monthly payments down). But, if you don't have any savings, that's not a problem. You can get a boiler on finance without a deposit.
Depending on the deposit and terms which you which to spread the cost over, your payments could be as low as £8. But typically, most boiler finance plans come out at around £17 on average. People usually pay over 5 years, with no deposit - that's most common.
Some finance providers even offer 0% interest free boilers for up 24 months on a range of pay-monthly finance plans. Providing you with the option of spreading the cost at 0% APR.
This allows you to pay for you boiler in easy monthly installments with zero interest added, if you pay the full ammount within the full interest free 2 year period.
This option is ideal for those who don't want to pay the full price for the boiler all at once, but instead want to spread the cost, giving you more time to pay the finance absoluterly free from any interest.
In order to qualify for an interest free boiler finance plan you will need to meet certain requirements and in order for the finance company to determine this you will be asked a series of questions during the application process.