Looking for a pay boiler monthly plan? Explore the best boiler finance deals to find a solution you're looking for.
Are you looking to pay for your new boiler installation using finance on a monthly basis, as opposed to paying for it outright with cash?
Boilers are not cheap, so it's not surprising if you are looking for a way to spread the cost and pay for it in monthly instalments instead. Or perhaps you just have better ideas of how to spend your funds.
As a result, new boiler pay monthly deals have grown to become a very popular method of buying a new boiler and Gas Safe Installation.
But exactly how does it work? And how much can you expect to pay?
In this guide, we'll answer all of your burning questions and provide some examples of how a boiler loan may work.
Pay Monthly Boiler Schemes Key Points:
Pay monthly boiler finance allows you to spread the cost of a new boiler into affordable monthly payments.
A deposit is not required for boiler finance, but up to 50% can be paid.
You can make overpayments at any point.
You can spread the costs of a new boiler up to 10 years (with an interest-bearing loan).
Interest-free boiler finance is available on specified boiler deals from 12 months up to 48 months in some cases.
Like all loans, boiler finance is not guaranteed but is subject to a lender approval process.
Heatable is not the lender – we are in fact the credit broker but can introduce you to one of the lenders on our panel.
The minimum loan is £1,000.
Buy now pay later boiler finance may also be available (subject to offers at the time).
To begin your boiler finance application and explore the options, start here.
Need to know the cost of a pay monthly boiler, quick? Simply answer these questions (takes 60 seconds), get your fixed price and you could get it installed as quick as tomorrow.
New Boiler Pay Monthly Schemes
As the name implies, a pay monthly boiler scheme allows you to pay for your new boiler in bite-size monthly amounts.
Unsurprisingly, the latest data and market trends indicate that this is becoming a very popular way to pay for a new boiler installation.
This trend has a huge advantage for consumers as it means the market is now much more competitive and so more competitive boiler finance deals are available as each tries their best to attract new customers.
Lenders include high street names, prime lenders and even specialist lenders available for individuals with a poor credit rating.
Watch Our YouTube video on how Boiler Finance works below:
Pay Monthly Boilers - How Does it Work?
So how does paying for your boiler monthly work exactly?
Essentially, we, as the credit broker will introduce you to our boiler financing partners. The loan amount could cover the full cost of a new boiler installation, but like any type of loan application, you will be required to go through an approval process.
Do you need a credit check?
When you apply for any credit, the lender will do an assessment of your credit history and the affordability of the loan.
The lender will do a ‘soft’ credit search of your credit file – this means it will not show on your record unless you are offered and accept a loan.
Can you get a pay monthly boiler with bad credit?
Can you still get a boiler financed, even if you have a poor credit history?
Customers with poor credit histories are still welcome to apply and will not be automatically ruled out. They will be independently assessed like all other customers.
Heatable work with specialist lenders that have experience working with applicant's with poor credit history.
Do you need a deposit for a pay monthly boiler?
Do you need a deposit to secure a boiler on finance?
No, you don't, however, if you want to, you certainly can.
For example, you can pay nothing, or up to 50% of the loan amount (do note, a minimum loan of £1,000 is required).
A large deposit, for example, a 50% contribution can hugely reduce your monthly repayments.
However, if you're looking at paying monthly for your new boiler, the likelihood is that you don't have access to cash funds, hence why you are seeking finance.
As a result, large deposits are somewhat rare when securing boiler financing.
What are the pay monthly boiler repayment terms?
As previously stated, the repayment terms for new boiler pay monthly financing are incredibly flexible.
In simple terms, if you pay for your boiler over a 10-year period, your monthly payments for your new boiler will be lowered.
If you pay over, let's say, 3 years, your monthly payments for your new boiler will be higher.
However, it's important to bear in mind that the longer the term, the more interest you'll pay.
Pay monthly boiler finance key points:
No deposit required (up to 50% optional)
Make overpayments at any time
Spread the cost over 3 to 10 years
Interest rates from 0% APR (from 12 – 48 months on selected boilers)
Want to know what boilers may be available to you on finance? Keep reading for the details, but if you are ready to get a personal free quote now, use our quick tool.
Pay monthly boiler finance plan examples (with our most popular boilers):
Worcester Bosch Greenstar i Boiler Payment Plans:
Fixed prices from £1,980 (get your quote online)
APR | Deposit | Loan Amount | Term | Monthly Payment | Interest | Total Payable | APRDepositLoan AmountTermMonthly PaymentInterestTotal Payable |
9.9% | £0 (0%) | £1,780 | 10 Years | £22.98 | £977.36 | £2,757.36 | |
9.9% | £780 (Max) | £1,000 | 10 Years | £12.91 | £549.09 | £2,329.08 | |
9.9% | £0 (0%) | £1,780 | 3 Years | £56.98 | £271.25 | £2,051.25 | |
9.9% | £780 (Max) | £1,000 | 3 Years | £32.01 | £152.39 | £1,932.39 |
Alpha E-Tec Boiler Payment Plans:
Fixed prices from £1,895 (get your quote online)
APR | Deposit | Loan Amount | Term | Monthly Payment | Interest | Total Payable | APRDepositLoan AmountTermMonthly PaymentInterestTotal Payable |
9.9% | £0 (0%) | £1,795 | 10 Years | £20.59 | £875.78 | £2,470.78 | |
9.9% | £595 (Max) | £1,000 | 10 Years | £12.91 | £549.09 | £2,144.08 | |
9.9% | £0 (0%) | £1,595 | 3 Years | £51.06 | £243.06 | £1,838.06 | |
9.9% | £595 (Max) | £1,000 | 3 Years | £32.01 | £152.39 | £1,747.39 |
Interest-Free Boiler Pay Monthly Schemes
Can you secure a new boiler using interest-free finance?
Unregulated boiler companies can offer 0% interest-free boilers, with payment terms over 12 months.
However, Heatable is authorised by the Financial Conduct Authority (FCA) as a credit broker and can offer finance over longer terms – we offer 0% finance from 12 to 48 months on selected boilers.
To see which new boilers are available with 0% interest, use our free tool to get your quote almost instantly.
Interest-free boiler finance key points:
No deposit is required on the new boiler pay monthly scheme.
Make boiler financing overpayments at any point.
Clear the balance at any point.
Pay monthly over 12 – 48 months.
Interest-free boiler finance examples (with our most popular boilers):
Worcester Bosch Greenstar CDi Compact (0% Finance):
Fixed prices from £2,295 (get your quote online)
APR | Deposit | Loan Amount | Term | Monthly Payment | Interest | Total Payable | APRDepositLoan AmountTermMonthly PaymentInterestTotal Payable |
0% | £0 (0%) | £2,095 | 2 Years | £87.29 | £0 | £2,095 | |
0% | £1,047.50 (50%) | £1,047.50 | 2 Years | £43.65 | £0 | £2,095 |
Viessmann Vitodens 100 (0% Finance) Boiler Payment Plans:
Fixed prices from £2,130 (get your quote online)
APR | Deposit | Loan Amount | Term | Monthly Payment | Interest | Total Payable | APRDepositLoan AmountTermMonthly PaymentInterestTotal Payable |
0% | £0 (0%) | £2,130 | 2 Years | £88.75 | £0 | £2,130 | |
0% | £1,065 (50%) | £1,065 | 2 Years | £44.38 | £0 | £2,130 |
Pay Monthly Boilers – FAQ:
Who can apply for pay monthly boilers?
Anyone who is an adult can apply for a new boiler pay monthly financing i.e. those over the age of 18.
Additionally, you will need to be a UK resident (for at least the past 3 years) and have some form of income, whether that be a salary or benefits.
When submitting your finance application, you will also be asked to provide a valid form of ID, such as a passport or driving licence, as well as proof of address e.g. a utility bill dated within the last 3 months of submitting the application.
Pay Monthly Boiler – Final Words
Apply for boiler finance today, and we could be fitting your new boiler tomorrow.
Interested in the new boiler pay monthly option?
If so, choose Heatable for your boiler replacement, here’s why:
Gas Safe installation within 24 hours
Thousands of happy customers – an average score of 4.6 on Trustpilot (that’s better than the market leader)
Price match guarantee – if you find a cheaper quote, we will match (must be like for like)
Multiple payment options - interest-free available
10-year guarantee
Fixed price guarantee – no hidden costs
Save your quote until later
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Heatable Ltd (Company No. 08804726) is authorised and regulated by the Financial Conduct Authority (FRN: 805259) as a credit broker (we are not the lender) and introduces loans from its panel of lenders. All loans are subject to lender approval process and credit scoring. When applying for loans, you should always make sure that your monthly payments are affordable as, if you don’t make the monthly repayments on time, your credit rating and your ability to access credit in future may be negatively impacted.
