HomeServe Membership Limited is a credit broker, not a lender. Barclays Partner Finance acts as the lender. If you choose a credit option, Help-Link UK Limited trading as HomeServe will receive commission from Barclays Partner finance which is a fixed percentage of the total loan amount. For more information, contact Help-Link UK Limited. The approval of your application depends on your financial circumstances and borrowing history, so do the terms you may be offered. Other finance, deposit and term options are available. Access to Finance is not guaranteed and credit is subject to status, affordability assessment and credit checks. Minimum spend and eligibility criteria applies.
Your guide to purchasing boilers on finance
What is boiler finance?
Getting a boiler on finance means you have chosen to pay for the item in instalments instead of opting for a one-off payment.
Some people prefer this option, as it could allow them to purchase their new boiler when they need it, as opposed to having to wait until they have saved up the funds to make the purchase in full. Some finance options require you to pay your instalments monthly with interest placed on top of the payments over the term of the finance agreement. This means you may pay more than the original amount you borrowed.
Can I use finance to buy a boiler with HomeServe?
A boiler is one of the most important appliances in your home. A source of both heating and hot-water, these systems typically have a significant impact on the levels of comfort experienced in your household. As a result of its important role, it is key that you ensure that the boiler you install in your home is efficient, safe and of decent quality – which often comes at a price.
To help ensure that you get a boiler that’s suitable for your needs, HomeServe could refer you to Barclays Partner Finance if you require finance to facilitate your purchase.
Am I eligible to apply for boiler finance?
To help ensure that you get a boiler that’s suitable for your needs, HomeServe could refer you to Barclays Partner Finance if you require finance to facilitate your purchase.
Please note that credit is subject to application, financial circumstances and borrowing history. There are some minimum criteria if you later decide to apply for finance:
To apply, you must:
- Be at least 18 years old
- Be in full time work (16 hours or more a week), retired, or in receipt of disability allowance
- Earn at least £6,000 a year
You must also have been a UK resident for three years or more, and have
- a mobile phone number
- an email address
- a UK bank account from which Direct Debits can be taken
- no outstanding County Court Judgements (CCJs)
Pay for your boiler on monthly repayments
Our £0 deposit offer is an example of one of the options that may be available. With this offer, you may be able to avoid paying a down payment for your new boiler installation by financing the total price of the boiler and the installation— spreading your payments over an agreed term*.
How our £0 deposit offer works
- 24 months Interest Free Credit 0% APR, or 4, 5, 8 or 10 years 9.9% APR representative*
- £0 deposit options available
- Minimum loan amount of £500
Illustrative example for 2 years 0% interest free credit
| Cash price | Deposit | Total loan amount | Term of Loan | Monthly cost | Total charge for credit | Total repayable | Interest Rate | Representative APR |
| £2,359 | £0.00 | £2,359 | 24 months | £98.29 | £0.00 | £2,359 | 0% | 0.00% |
Representative example for 2 years 0% interest free credit`
| Cash price | Deposit | Total loan amount | Term of Loan | Monthly cost | Total charge for credit | Total repayable | Interest Rate | Representative APR |
| £3,178.00 | £0.00 | £3,178.00 | 24 months | £132.42 | £0.00 | £3,178.00 | 0% | 0.00% |
Representative example accurate as at 25th November 2022.
Illustrative example for 9.9% APR Interest Bearing Credit
| Cash price | Deposit | Total loan amount | Term of loan | Monthly cost | Total charge for credit | Total repayable | Interest Rate | Representative APR |
| £2,359 | £0.00 | £2,359 | 120 months | £30.50 | £1,300.47 | £3,659.47 | 9.9% | 9.9% |
Representative example for 9.9% APR Interest Bearing Credit
| Cash price | Deposit | Total loan amount | Term of loan | Monthly cost | Total charge for credit | Total repayable | Interest Rate | Representative APR |
| £3,096.00 | £0.00 | £3,096.00 | 120 months | £40.02 | £1,706.40 | £4,802.40 | 9.9% | 9.9% |
Representative example accurate as at 25th November 2022.
Please remember...
HomeServe Membership Limited is a credit broker, not a lender. Barclays Partner Finance acts as the lender.
If you choose a credit option, Help-Link UK Limited trading as HomeServe will receive commission from Barclays Partner finance which is a fixed percentage of the total loan amount. For more information, contact Help-Link UK Limited. The approval of your application depends on your financial circumstances and borrowing history, so do the terms you may be offered. Other finance, deposit and term options are available. Access to Finance is not guaranteed and credit is subject to status, affordability assessment and credit checks. Minimum spend and eligibility criteria applies.
Why choose HomeServe to buy a boiler on finance?
We’re amongst the UK’s leading boiler specialists. Over the years, HomeServe has established itself as a trusted and reliable provider of domestic heating services, constantly prioritising top-quality workmanship as well as customer satisfaction. Whether you’re in need of a boiler installation, repair or service, we’ll aim to provide you with exactly what you need within a suitable and convenient time frame.
Call us today on 0330 024 7312 to discuss how we could help you get your home heating up and running efficiently. We’ll be happy to discuss ways to pay that suit your needs and affordability.
How to get a boiler on finance and installed, fast
HomeServe aims to make the process for your new boiler installation as quick and easy as possible. Follow these simple steps to purchase your new boiler:
- Step 1: Online Quote - Simply answer a few quick and easy questions and within a matter of seconds you could receive your free, personalised quote estimate!
- Step 2: Book a survey - You can book a survey with one of our experts online, or book one at the point our advisor calls you to discuss your quote.
- Step 3: Your Survey - One of our experts will perform a survey of your home heating system in your selected time slot. This will be done via video call, which is quick and easy to do, but ensures the same high quality service as an in person survey.
- Step 4: Finding a way to pay - Once you’re happy to move forward with your quote and installation plan, we’ll provide you with the information you need to choose a suitable payment option for you; referring you to our lender if needed.
- Step 5: Your new boiler installation -Once steps 1-4 are completed, you could be all set to get your brand new, A-rated boiler installed by one of our qualified, Gas Safe registered engineers.
Using finance to buy a boiler
A boiler is one of the most important appliances in your home. A source of both heating and hot-water, these systems typically have a significant impact on the levels of comfort experienced in your household. As a result of its important role, it is key that you ensure that the boiler you install in your home is efficient, safe and of decent quality – which often comes at a price.
A new boiler could indeed be a costly expense, however, a boiler that effectively provides central heating to your home could be regarded as a worthwhile investment. To help ensure that you get a boiler that’s suitable for your needs, HomeServe could refer you to Barclays Partner Finance if you require finance to facilitate your purchase.
Please note that credit is subject to application, financial circumstances and borrowing history. There are some minimum criteria if you later decide to apply for finance:
Barclays Partner Finance Eligibility Criteria
On the date of the application, you must:
- Be aged 18 or over
- Have lived permanently in the UK for the last three years (i.e. provide 3 years of UK address history or up to the last 3 UK addresses)
- Not be subject to Bankruptcy or a Debt Relief Order (or Scottish equivalent)
For information: Credit checks will consider additional information relating to the performance of previous or existing commitments and any county court judgements.
You must be:
- In permanent employment which provides regular sustainable income of at least £6000 per year
- Self-employed (upon request you may need to provide proof of income, for example a recent bank statement and/or SA302)
- Retired from regular employment (you may be asked to provide proof of your pension or income)
- Receiving certain DWP (Department for Work and Pensions) benefits that provide regular sustainable income
You must also have:
- A UK bank account from which Direct Debits can be taken
- A mobile number
- An e-mail address
Please also note, a valid mobile number and e-mail address are mandatory to apply for a finance application. If you do not have a valid email address, you will not be able to apply for finance. This is subject to application, financial circumstances and borrowing history.
What other kinds of boiler finance exist?
Finance acceptance is not guaranteed, it is subject to status and credit searches are usually required. The terms and conditions offered by the lender must also be taken into consideration.
The following are examples of some typical finance terms and agreements that may be referred to or offered by lenders:
Deposits
A deposit, in general terms, means an upfront payment. Some companies may request for a deposit to be paid, others may not. In both cases, if you’re using finance to purchase goods or services, a deposit could alter the amount you pay back. £0 deposit finance plans generally allow you to finance your entire purchase without paying any money upfront.
Contrastingly, paying a deposit could mean that you may apply for a lower loan amount. Interest rates charged on loans may vary depending on your personal circumstances, the loan amount requested and lender’s rates (this list is not exhaustive).
Interest
Interest is the charge for the privilege of borrowing money; typically expressed as annual percentage rate (APR). When an applicant receives a loan, interest and other fees may be added. It is therefore important that you understand the amount that you are expected to pay over the term of the loan. You should also pay particular attention to the agreed payment schedule and any repayment charges mentioned in your agreement’s terms and conditions. Early repayment charges, as well as default and arrears charges may also be included, although other terms and conditions may apply.
It is important to note that failure to maintain the agreed terms and conditions of your finance agreement may result in additional charges, poor credit rating and/or legal action
The main types of interest include:
- Fixed rate interest
- Variable rate interest
- 0% Interest
What is fixed rate interest?
A loan with a fixed rate of interest may be offered by some lenders to provide customers with a predictable payment schedule over the term of their loan. These agreements are subject to the applicant meeting the terms and conditions set out by the lender, which may include but not be limited to: no late payments, omissions or early repayment.
What is variable rate interest?
A loan with a variable rate of interest, in contrast to the former option, means that monthly payment amounts may vary as well as the overall cost of the loan.
What is 0% interest?
When lenders offer 0% interest rates, this usually means that no interest is charged and therefore the original amount borrowed is paid back in instalments. It is essential that you read and fully understand the terms and conditions of 0% interest finance agreements prior to agreeing to a payment plan to which it is applied.
Important information about financing a boiler
Homeserve is a trading name of Help-Link UK Limited. Help-Link does not provide financial advice. The information contained on this page is for information only and is not promoting or recommending entering into a finance agreement with any lender. If you require any advice or recommendations, then Independent financial advice should be sought from a suitably qualified financial advisor. Loans are subject to status, credit checks and affordability and should not be assumed as guaranteed.
*Subject to application, financial circumstances and borrowing history. Terms & Conditions apply. Other options are available. Finance can be taken out with or without deposit and capital payments can be made at any time to reduce your loan.
*1 HomeServe Membership Limited brings you this discount offer from Help Link UK Ltd. The discount is only available to existing HomeServe Membership Limited policyholders. Only one discount available per boiler installation on all gas boilers. £500 discount is available on system swaps only i.e. conventional to combi. Customers who purchase a like for like boiler replacement (combi to combi or conventional to conventional) will be eligible for a £200 discount. The discount will only be applied to the cost of the boiler requested. Installation must be booked within 30 days from the point the boiler quote is accepted. No cash alternative will be given for the customer discount. The offer remains valid with the quote.
About the lender
HomeServe Membership Limited is a credit broker, not a lender. Barclays Partner Finance acts as the lender. If you choose a credit option, Help-Link UK Limited trading as HomeServe will receive commission from Barclays Partner finance which is a fixed percentage of the total loan amount. For more information, contact Help-Link UK Limited.
Barclays Partner Finance is a trading name of Clydesdale Financial Services Limited, a member of the Barclays group. Clydesdale Financial Services Limited is authorised and regulated by the Financial Conduct Authority. Financial Services Register number 311753. Registered in England under company number 2901725. Registered office: 1 Churchill Place, London, E14 5HP.
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