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Last updated on December 13th, 2023 at 11:02 am

Did you know that a staggering 55% of homeowners delay replacing their old boilers due to financial concerns? A new boiler can be a significant investment, but it’s also a crucial one for your home’s comfort and energy efficiency.

If you’re wondering how to manage the cost, financing options might be the solution. In this article, we’ll explore the possibility of getting a new boiler on finance and the benefits it can offer.

Understanding Boiler Financing

Boiler financing is a payment plan that allows you to spread the cost of installing new boiler over a specified period, typically ranging from 1 to 10 years. It’s an attractive option for homeowners who want to avoid paying the full amount upfront. Instead, you make regular, manageable payments over the agreed-upon term.

Boiler financing is a flexible way to access the latest heating technology without the burden of an upfront payment. It can be especially beneficial if your current boiler is outdated, inefficient, or unreliable, as investing in a new boiler can lead to long-term savings on energy bills.

Benefits of Boiler Financing


Financing makes a new boiler more affordable by breaking down the cost into smaller, budget-friendly installments. This can be especially beneficial if you have a tight budget but urgently need a replacement.

Energy Efficiency:

Upgrading to a more efficient boiler can lead to long-term energy savings. Financing allows you to invest in a higher-efficiency model, which can help offset the cost through reduced energy bills.

Quick Installation:

Boiler financing often includes installation costs. This means you can have your new, efficient boiler up and running without any immediate financial strain.

Warranty Coverage:

Many financing plans come with warranty packages, ensuring that your investment is protected for a specified period. This peace of mind can save you money on potential future boiler repairs.

Types of Boiler Financing

Several financing options are available for purchasing a new boiler:

  • Loans: An option to explore is taking out a loan from a bank or lender to cover the cost of your new boiler. These loans typically have fixed interest rates and terms, making it easier to budget for repayment.
  • Credit Cards: Using a credit card to finance your boiler is an option, but it’s essential to be cautious of high-interest rates. Some credit cards offer introductory 0% interest periods, which can be beneficial if you can pay off the balance before the regular rate applies.
  • Boiler Financing Plans: Some boiler manufacturers and installation companies offer their financing plans. These plans may come with competitive interest rates and convenient terms, often tailored to your specific needs.

Each financing option has its advantages and disadvantages, so it’s crucial to research and compare them to find the one that best suits your financial situation and long-term goals.

Eligibility and Credit Checks

To qualify for boiler financing, you’ll typically undergo a credit check. Lenders want to assess your creditworthiness to determine the interest rate and terms they can offer you. If you have a strong credit history, you’re likely to secure better financing terms. However, even if your credit is less than perfect, some lenders may still provide options, albeit with higher interest rates.

Maintaining a good credit score is essential if you plan to take advantage of financing opportunities. Pay your bills on time, reduce outstanding debts, and monitor your credit report for inaccuracies.

Choosing the Right Financing Option

When considering boiler financing, it’s essential to shop around and compare offers from different lenders or manufacturers. Pay attention to interest rates, repayment terms, and any additional fees. Choose a plan that aligns with your budget and long-term goals.

Consider the total cost of financing over the repayment period, including interest charges. While a longer-term loan may have lower monthly payments, it can result in higher overall costs due to interest. Conversely, a shorter-term loan may have higher monthly payments but lower overall costs.

Closing Thoughts

Getting a new boiler on finance can be a smart move for homeowners looking to improve their home’s energy efficiency and comfort. It offers affordability, the opportunity to invest in a high-efficiency model, and peace of mind with warranty coverage.

Before making a decision, assess your financial situation, compare financing options, and ensure you’re comfortable with the terms. With the right financing plan, you can enjoy a warm and efficient home without breaking the bank.

Consider consulting with a heating specialist such as Warmable or financial advisor to help you make the best choice for your specific needs and circumstances.

Boiler Installation With Warmable

Warmable is your trusted partner when it comes to repairs, service and installation. With a network of over 700 boiler fitters across the UK, we ensure that wherever you are located you can get the specialist help you need. Get in touch today for a free quote!

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Andrew Speer

Andrew Speer is the co-founder of Warmable drawing on more than 15 years of experience working in property and home repairs industry in the UK