The boiler is the heart of every home, providing hot water and heating. As such, homeowners need to invest in yearly servicing and regular repairs.
Sometimes, you have no option but to replace your boiler. For example, if your boiler is old and out of warranty and suddenly breaks down.
If you need to replace your home’s boiler for any reason, then you could be looking at paying a hefty sum upfront.
Depending on the type of boiler you need, you could be looking at paying anywhere between £600 and £2500 for the unit alone.
Add on installation costs, and you could have a large bill on your hands, which can be a challenge to pay for, especially if you don’t have a lot of savings to fall back on.
Buying a cheap boiler could mean spending more money on repairs in the long run. You also might have to replace it sooner than if you bought a high-quality boiler.
As such, you need to view a replacement boiler as an investment, both in your home and in your personal wellbeing.
While this investment is worth it, it can be a lot of money to pay out at once, and if you don’t have it to hand, then you need to explore ways to pay for your replacement boiler.
Thankfully, there are many ways to finance your new boiler. Keep reading and we’ll list some of the ways you can pay for your replacement boiler and keep your home nice and warm all year round.
Check Out Boiler Finance Options
Many boiler suppliers offer boiler financing options to allow buyers to spread the cost of a new boiler. When you’re getting a quote for boiler finance, use several online calculators from a range of suppliers. Most boiler companies also factor in installation costs, so make sure that you review everything you’re getting before you commit to one quote. Take the time to explore your repayment options and try to find boiler financing that gives you the flexibility and great deal that you need.
Get A Payday Loan
A payday loan can be an ideal way to quickly get some extra cash in your account to pay for unexpected bills and then pay the money back when you have it. If you check out a broker like Payday UK, you can browse payday loans and get accepted instantly, with the money in your account in as little as 15 minutes. You don’t pay any broker fees and can quickly get a decision and have the money to spend on your new boiler on the same day. That means you can buy your new boiler quickly and grab a great deal.
Use A 0% Credit Card
Putting a new boiler, or part of the cost of one, on a credit card can be a great way to pay for it, particularly if you only need the money for a short period of time or if you only need a small portion of the cost of your new boiler. Many credit card providers offer limited-time 0% APR financing, so you should try to find a credit card that gives you a great deal. Make sure that you read the terms and conditions of your credit card, so that you don’t incur any additional fees that could end up costing you more than you bargained for.
Explore Boiler And Heating Grants
In some cases, it is possible to get government-funded grants to help you pay for your new boiler. There are various funding schemes available to help individuals throughout the UK to heat their homes. Many of these schemes are available to individuals who are on Universal Credit or other benefits programs, so if you use these, then you could be in with a chance to get money off or even a free replacement boiler. While there’s no guarantee that you will be accepted, these grants could save you money and allow you to replace your boiler.
Take Out A Short-Term Loan
If you’re struggling to access other forms of finance, then you could approach your bank and ask for a short-term loan to cover the cost of your new boiler. Banks and other financial institutions often offer homeowners the chance to get a short-term loan, which is secured against their property. These loans can be used for home improvements such as a new boiler. Check out the options on the market to see if a short-term loan is the right option for you when you’re trying to replace the boiler in your home.
Replacing your boiler can be an expensive endeavour, but it’s crucial if your existing unit is no longer functional. These tips should help you to spread the cost of your new boiler and make it easier for you to get the best make and model for your home without breaking the bank.