Currently, only those who claim benefits can get help towards the cost of replacing their boilers. But, if you don’t claim any benefits and you don’t have the cash up-front to cover the costs of replacing your old boiler, then getting a replacement boiler with a finance plan from APG Domestic Services could be your best bet.
What is boiler finance?
You spread what would be the cost of a brand new boiler and split it into manageable chunks which you pay every month over a set period of time. Depending on the plan you choose, the monthly payments will be somewhere in the region of ten to twenty pounds and you can spread them over a long period of time.
What are the benefits?
You get total peace of mind during the contract as the warranty will span the entire life of the finance agreement. This means that if your boiler breaks down three years after its installed, you can simply call up APG and it will be instantly fixed or replaced. If it breaks down nine years down the line you’ll be able to get it fixed at no extra cost.
Another benefit is being able to avoid the large up-front costs, too. Many boiler installers who have access to finance are able to offer 0% APR rates, and can install your new boiler with little to no deposit. Twenty quid per month sounds a lot better than £3,000 all in one go!
How much will I need to pay?
You may be able to get your new replacement boiler installed with little to no costs up-front. If you can offer a deposit however, you should be able to use that to put towards the installation as it will decrease your monthly payments or the amount of time you need to pay.
What kind of boiler will I get?
Because you will need cover for the entire span of your finance agreement, the types of boiler which get installed will be of the highest quality. This is because they will want to install a boiler which isn’t going to break down every 5 minutes meaning they have to constantly come out and fix it.
I don’t have a great credit score.
Even if you don’t have a great credit score, you should still look into getting a boiler on finance. It will cost you nothing to do so and there is help out there for those who haven’t spent so wisely in the past. If you’re fully employed and are meeting your financial responsibilities, then you can still get financial support.
How much does a new boiler installation cost?
The cost of a replacement boiler can vary a lot depending on many different factors. You may need to have extra piping installed into your home, your flue may need to be upgraded, or the boiler itself may even need to be relocated for safety reasons. Typically, a standard boiler swap (combi for combi for example) can cost you somewhere between £1,500 – £2,500. If you require a conversion (which to swap a standard system, for a combi boiler), you may be having to pay around £3,000 – £4,000.
Do I have any alternative options?
If you don’t claim benefits and you have a terrible credit score, the last thing you could do is to speak to Preston council. They can sometimes have home improvement grants available or run independent schemes that would enable you to get a new boiler. However if you fancy looking into speaking to someone regarding boilers on finance, give us a call.