You can pay for a new boiler over several years
Many companies offer plans with 0% interest
You can get quotes for a new boiler by filling in the form above
Sometimes you need a new boiler, but the cost of a new boiler is too much.
Buying a boiler on finance can be a simple solution to this stressful problem, allowing you to spread the cost over several years.
In this guide, well explain what this type of payment structure involves, give you the tools to figure out whether its right for you, and explain how and where you can choose between different boilers on finance.
Want to buy a new boiler without the help of a boiler finance scheme? Just fill in this short form, and our trusted installers will send you free, bespoke quotes.

What is a boiler finance scheme?
A boiler finance scheme allows you to pay for a new boiler over the course of a few years or even a decade, instead of having to part with a large lump sum all at once.
This means you can get a boiler when you need it, rather than waiting until youve saved up enough money to afford the £4,000 that a new boiler costs, typically.
Youll be charged a certain amount of money each month, until youve paid off the full cost of your boiler.
Depending on the terms of your agreement, you may have to pay interest on the boilers price but many companies offer schemes without interest.
How does a boiler finance scheme work?
A boiler finance scheme works much like a mobile phone plan: you get a boiler installed in your home straight away sometimes after an upfront deposit of around 10% then you pay the seller a previously-agreed amount every month.
Once the contract has reached its conclusion and youve paid off the boilers total price, the monthly payments will stop and youll own the boiler outright.
Finance schemes are offered alongside other payment options, so when youre searching through the best boilers to find the right one for your home, companies will offer you the choice between paying upfront or over a number of years.
If you choose a boiler finance scheme, youll usually get the option of picking either a plan with 0% APR (Annual Percentage Rate), or a plan with between 7.99% and 11.99% APR.
Schemes with 0% APR are much cheaper, but will require you to pay off your purchase quicker usually within 2-4 years while a payment plan that includes interest will usually last 10-12 years but is significantly more expensive overall.
How much do you usually pay for a boiler on finance?
Youll pay the same amount for a boiler on a finance scheme plus any interest included in your contract.
If you choose a plan that offers 0% APR, youll pay the exact price of the boiler; youll just pay it off over 2-4 years, instead of instantly.
Here are some examples of how a three-year boiler finance scheme with 0% APR might look.
Boiler cost | APR | Monthly payment for 36 months | Overall cost | Overall increase |
---|---|---|---|---|
£3,000 | 0% | £83.33 | £3,000 | 0% |
£4,000 | 0% | £111.11 | £4,000 | 0% |
£5,000 | 0% | £138.89 | £5,000 | 0% |
If you pick a finance scheme with a higher APR, itll usually add between 7.99% and 11.99% to the amount you have to pay off every year.
For the average £4,000 boiler, this adds up over a 10-year period as you can see below.
Boiler cost | APR | Monthly payment for 120 months | Overall cost | Overall increase |
---|---|---|---|---|
£4,000 | 7.9% | £47.75 | £5,730 | 43% |
£4,000 | 9.9% | £51.71 | £6,205 | 55% |
£4,000 | 11.9% | £55.77 | £6,693 | 67% |
What are the requirements for a boiler finance scheme?
You generally have to fulfil the following requirements to qualify for a boiler finance scheme.
You must have:
- Been a permanent UK resident for the past three years
- A valid passport and UK driving licence
- An electricity bill in your name from the past three months
- Be between 18 and 85 years old
Youll also need a source of income that will reassure the organisation loaning you the money that youll be able to repay it.
Most companies, including energy suppliers like British Gas and E.ON, act as credit brokers, meaning they wont be the one to lend you the money.
That honour will go to an established, accredited lender, such as Creation Consumer Finance Limited, which performs this role for E.ON.
This lender will conduct an approval process to assess whether youll be able to repay the loan, and will run a credit check on you.
Most households will pass these checks, so as long as you fulfil the requirements listed above, you should be set.

Is a boiler finance scheme a good idea?
A boiler finance scheme could be an excellent idea if you cant pay the price of a new boiler, or simply dont want to.
If you choose a finance scheme with 0% APR, it wont cost you any more than it would in normal circumstances. Youll just spread the payments out.
However, you must be certain that youll be able to afford the regular payments.
And be careful about agreeing to a higher APR, as itll mean paying a larger amount in total. For instance, 7.9% APR will make your boiler 43% more expensive overall.
This kind of plan may still suit you, as it generally gives you 10-12 years to pay it off, but its worth being wary and making sure you can set the necessary money aside.
If youre not sure youll be able to pay the monthly amounts required by a boiler finance scheme, you may qualify for a government grant.
Pros and cons of boiler finance schemes
Pros | Cons |
---|---|
You dont have to pay the total cost upfront | You must be able to pay the same amount every month for years |
With a 0% APR scheme, youll pay the same amount | On a scheme with more than 0% APR, youll pay more than the boilers price |
You can spread the payments over years | Anyone over 85 may not be eligible |
You can get a new boiler when you need it, rather than just when you can afford it | The payments will hang over you for years |
You can usually pay in more at any time to cut your repayment time |
Things to consider before buying a boiler on finance
Before buying a boiler on finance, consider the following questions.
Are you able to pay the full amount up front? If so, this may be the better option for you, as you wont have to keep up with monthly payments for anywhere from two to 10 years.
Do you have an income stream you can rely on for the length of your plan? Make sure youll be able to afford every monthly payment, otherwise your boiler can be repossessed, you can be taken to court, and your credit may be affected.
Do you want a longer plan with lower payments? This type of plan will usually last 10-12 years and come with a higher APR, meaning youll pay a higher price overall for your boiler about 55% more, on average.
Do you want a shorter plan with higher payments? These finance schemes usually last 2- 4 years and charge 0% APR, which means youll only pay the original cost of the boiler but at a faster speed, so your monthly payments will be higher.
Do you qualify for a free boiler through the governments ECO4 scheme? Check our guide to free boiler schemes and government grants, as theres no point paying for a boiler if you dont have to.
Which companies currently offer boilers on finance?
Some energy companies offer boilers on finance by acting as a credit broker, including British Gas and E.ON.
You can also check out numerous comparison websites that work in much the same way, including Boiler Central, Heatable, and Uswitch.
Any of these sites will allow you to compare offers from lenders, and may get a commission if you buy a boiler as a result.
Approach as many of these credit brokers as possible before making your final decision.
Summary
You now know everything you need to about boilers on finance.
If you think this kind of long-term payment structure is right for you, wed advise you to proceed with caution, and make sure to get multiple quotes.
And if youd rather buy a boiler outright and not have monthly payments hanging over your head for years, we can help you with that too.
Just fill in this short form, and our trusted installers will send you free, bespoke quotes.