Find out more about Boiler Finance in Epsom
Age takes its toll on us all, not least our boilers. They often become inefficient over time and need replacing or repairing. But whether you’re replacing an old boiler or installing a new one, the cost of boiler installation can seem intimidating. Few of us have thousands of pounds sitting around waiting to pay for improvements to the central heating system.
If you are looking for a new boiler installation then you may also want a way to spread the cost, and we want to help you understand your boiler finance options. Fortunately finance for heating systems is fairly easy to get, and at very reasonable rates. There are plenty of finance options to provide you with affordable heating.
Government schemes periodically provide finance for home improvements that will reduce your environmental impact, and a better boiler is a key part of achieving this. Banks can be approached for personal loans. We can put you in touch with organisations who provide personal finance for those in need of help or who are working on beneficial projects. Even if you have a CCJ or have been refused credit in the past, you may still be eligible for finance for your new boiler.
What boiler finance can cover
What you cover with your boiler loan is largely up to you. Whether you want a new gas boiler financed, a general overhaul of your central heating system, to swap your boiler from regular to combi, or to sort out the heating controls, you can find a loan to help spread the cost. Parts, labour and the seven or eight year boiler warranties we provide can all be covered in the costs, whether it’s a typical combi boiler swap, a heat only boiler swap or a whole new boiler. Whatever the work that is needed on your boiler or central heating, you can find finance to cover it. The first step is to approach a central heating services company like ourselves and book an appointment to get a quote. We can visit your home to look at the existing system and provide a cost estimate for your new boiler, including boiler cover. This will give you something to take to the bank or credit union, demonstrating what you want to do with the money and how much you need.
Terms and conditions – what to expect
The details of your loan will vary from scheme to scheme. You are likely to get better rates from a scheme deliberately designed for improved central heating or green home improvements, and the duration of the loan will affect the cost. The loan will usually be at fixed interest rates for a period of 1, 2, 3 or 5 years. The shorter the loan the more you will have to pay back at a time, but the less it will cost you in the long term through interest. So when considering the length of the loan you will need to balance your short term ability to pay against long term savings. While interest will usually be calculated monthly, the overall cost is expressed as typical APR – the Annual Percentage Rate. This is how much of the overall size of the loan will be added on as interest over the course of a year, and is the main measure of the cost of the loan. All other things being equal a low APR is good, and green loans of 9.4% typical APR are available, though you may be able to find something lower.
Why it’s worth it
Seeking out finance for your boiler lets you get the system you want into your house faster. It may add to the costs through interest, but it will also save you money through improved boiler efficiency reducing your energy bills. So call us now or contact us through the website to get your quote and any additional information you need. Don’t let the cost hold you back from being comfortable in your own home.