HomeServe Membership Limited acts as a credit broker and not a lender. Credit is provided by Creation Consumer Finance Ltd. Authorised and regulated by the Financial Conduct Authority. The approval of your application depends on your financial circumstances and borrowing history, so do the terms you may be offered. 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 Creation Consumer Finance if you require finance to facilitate your purchase.
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 3, 4, 5, 8 or 10 years 11.9% APR representative*
- £0 deposit options available
- Minimum loan amount of £1000
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 |
| £2,469.00 | £0.00 | £2,469.00 | 24 months | £102.86 | £0.00 | £2,469.00 | 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 |
| £3,263.00 | £0.00 | £3,263.00 | 24 months | £135.96 | £0.00 | £3,263.00 | 0% | 0.00% |
Representative example accurate as at 1st May 2023.
Illustrative example for 11.9% 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 |
| £2,469 | £0.00 | £2,469 | 120 months | £34.42 | £1,661.40 | £4,130.40 | 11.9% | 11.9% |
Representative example for 11.9% 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 |
| £2,996.00 | £0.00 | £2,996.00 | 120 months | £41.77 | £2,016.40 | £5,012.40 | 11.9% | 11.9% |
Representative example accurate as at 1st May 2023.
Please remember...
HomeServe Membership Limited acts as a credit broker and not a lender. Credit is provided by Creation Consumer Finance Ltd. Authorised and regulated by the Financial Conduct Authority. The approval of your application depends on your financial circumstances and borrowing history, so do the terms you may be offered. 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 Creation Consumer 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:
Creation Consumer Finance Eligibility Criteria
On the date of the application, you must:
- Be minimum age of 18 (at date of application)
- Be maximum age 85 (at the end of the agreement)
- Not be subject to Bankruptcy or a Debt Relief Order (or Scottish equivalent)
For information -The credit check carried out will consider additional information relating to the performance of previous or existing commitments and any county court judgements.
You must be:
- A UK resident for the last 3 years minimum
- Full time employed (16+hrs per week) / part time employed (up to 16hrs per week) / self-employed / retired / in receipt of disability allowance / homeowner
- Have an individual gross income of £10,000 or more (or a joint income if married / living with partner / in civil partnership)
You must have:
- Mobile telephone number and valid email address
- Have a bank account that supports direct debit – in the name of the applicant and the only signatory to authorise a direct debit
An eligibility check, which is a soft check and will not appear on your credit file, will take place before your application.
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. Creation Consumer Finance acts as the lender. If you choose a credit option, Help-Link UK Limited trading as HomeServe may receive commission from Creation Consumer Finance which is a fixed percentage of the total loan amount. For more information, contact Help-Link UK Limited.
BNP Paribas Personal Finance is a trading style of Creation Consumer Finance Limited. Registration Number: NI32565. Registered Office: 4th – 6th Floor, Wellington Buildings, 2-4 Wellington Street, Belfast, BT1 6HT. Creation Consumer Finance Limited is authorised and regulated by the Financial Conduct Authority.
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