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Last updated: 6th August, 2023


Boilers on Finance: Best Pay Monthly Deals and No Interest

Boilers on Finance: Best Pay Monthly Deals and No Interest

Buying a boiler on finance can be hard with all the different options available. Let us explain all this in plain English for you.

There's no need to pay the full cost of your new boiler upfront; you can spread the cost of your new boiler. Pay in affordable monthly instalments.

How consumers carry out purchases has changed a lot over the past few decades, with people buying clothes, cars, technology and houses on finance plans.

Need a new boiler?

Get a quote in 60 seconds, fitted as fast as next day!
0% APR finance available.

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At iHeat we know and understand that a boiler not working can come at the most inconvenient of times, and not everyone can fork out the money to purchase a new boiler right away.

In fact, according to a recent survey by Which?, 33% of UK households can’t afford to cover the cost of a new boiler.

We believe that no matter your financial circumstances, you shouldn’t have to come home to a cold house, particularly in the winter months, so we offer a range of finance options to suit you.

Benefits of Buying a New Boiler on Finance

According to The Energy Saving Trust, the average boiler replacement costs £2,300 but can cost anywhere between £1,500 and £3,500+, depending on the boiler and the job's complexity.

Unfortunately, the average amount of money households have set aside for repairs and replacements is just £765.

The cost is spread out by paying for a boiler on finance, making it more affordable monthly instead of paying for it all at once.

Purchasing through finance also allows you to pick from a range of boilers instead of settling for the cheapest option due to limited savings.

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How Does Finance Work?

When purchasing a new boiler through finance, you take all the same initial steps as you would if you were paying directly. The only difference being you need to complete a finance application at the end of your order simple.

  • Answer a few questions in our interactive form about your home, including your current boiler type, number of bathrooms etc… to allow us to work out which boilers are more suited to your home.

  • Choose from our range of recommended boilers

  • Use the finance calculator to select your preferred deposit, loan term and APR and get a fixed quote.

  • You can either go straight to checkout with your quote or save it for later. Once you’re ready to go ahead with your installation, select an install date and enter your details.

  • Apply for finance through our website.

What Are The Finance Package Examples?

0% APR, No Deposit for 2 Years

You can get a new boiler and installation with iHeat from just £93.54 a month for two years with no deposit and 0% APR.

13.9% APR, 0% Deposit for 10 years

You can get a new boiler and installation with iHeat for ten years with a 0% deposit and 1139% APR.

Need a new boiler?

Get a quote in 60 seconds, fitted as fast as next day!
0% APR finance available.

Get a quote

These are just a few examples of how you can pay through finance. Get a quote for a new boiler and installation today, and use our calculator to work out which finance package is most suitable for you.

How much will my deposit and monthly repayments be?

Our website has finance calculators that give you accurate monthly payments based on your finance package, terms and deposit amount.

Deposit amounts are between 0-50%, though the amount you repay depends on which boiler model you have chosen.

Your monthly payments will depend on your boiler finance plan, including the length of term finance you select, your choice of boiler and the deposit you decide on.

To plan your finance, click here.

Getting a boiler on finance with bad credit

All finance applications are subject to approval and a credit check. If you think your credit score may be less than fair, we recommend checking your credit on a free site like Experian.

Steps you can take to improve your credit rating:

  • Register to vote

  • Pay your bills on time

  • Pay off existing debts

  • Don’t borrow more than you can afford to pay back

  • Avoid high-interest loans

  • See if you are linked to someone else

  • Check your file for any mistakes

  • Check your file for fraudulent activity

  • Utilise less of your credit

  • Don’t apply for credit through multiple lenders at once

Apply for the ECO3 Free Boiler Scheme

The ECO3 Scheme was set up by the government to help homeowners in England, Scotland and Wales who need assistance heating their homes. Under the scheme, the six largest energy providers must aid the installation of energy-efficient measures such as wall insulation, loft insulation and gas boiler replacement.

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Frequently Asked Questions

Is it worth getting a boiler on finance?

The value of getting a boiler on finance is subjective and depends on an individual's financial situation. For some, the ability to spread the cost of a new boiler over some time can make it more manageable and less of a financial burden. It allows for immediate installation and usage without needing a large upfront payment. However, it's important to consider the interest rates and ensure the monthly repayments are affordable.

Can I buy a boiler and pay monthly?

Yes, it is possible to buy a boiler and pay for it in monthly instalments. Many companies, including iHeat, offer boiler finance options that allow you to spread the cost of your new boiler over a period of time. This can make the purchase more manageable, particularly if you are faced with the unexpected cost of replacing a broken boiler.

Can you buy boilers on finance?

Absolutely, you can buy boilers on finance. Many boiler manufacturers and suppliers offer finance options to make the cost of a new boiler more manageable. This can be particularly useful if your boiler breaks down unexpectedly and you need to replace it quickly. With a finance plan, you can spread the cost of your new boiler over some time, making it more affordable.

Do government give grants for boilers?

Yes, the UK government has set up schemes like the Energy Company Obligation (ECO) that can provide eligible households with boiler grants to replace old, inefficient boilers. However, these are subject to certain conditions, such as income, the current state of your boiler, and the type of property you live in. It's always worth checking to see if you're eligible for any government assistance when replacing your boiler.

What are the benefits of buying a boiler on finance?

Buying a boiler on finance can have several benefits. Firstly, it allows you to spread the cost of the boiler over some time, making it more affordable. Secondly, it can enable you to upgrade to a more energy-efficient model, which could save you money on your energy bills in the long run. Finally, it means you can have the boiler installed immediately rather than having to wait until you've saved up enough money.

How does buying a boiler on finance work?

When you buy a boiler on finance, you essentially take out a loan for the cost of the boiler. This loan is then repaid over a set period of time in monthly instalments. The exact terms of the finance agreement, including the interest rate and length of repayment period, can vary depending on the provider and your credit rating. It's important to read the terms and conditions carefully before entering into a finance agreement.

Can I get a boiler on credit with bad credit?

Getting a boiler on finance with bad credit can be more challenging, but it's not impossible. Some finance providers may still offer you a finance deal, but the interest rates may be higher. It's important to shop around and explore all your options. Also, improving your credit score can increase your chances of getting a better finance deal.

What are the finance options for buying a boiler?

There are several finance options available when buying a boiler. These include interest-free credit options, buy now, pay later schemes, and longer-term finance plans with interest. The best option for you will depend on your financial circumstances and the price of the boiler you wish to purchase. It's important to compare different finance options to ensure you choose the one that's most affordable for you.