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Boiler Advice

How can I afford a new boiler?

How can I afford a new boiler?

33% of homeowners can’t afford a new boiler

Which? recently conducted a survey. A recent survey by Which? revealed that 33% of UK households cannot afford to pay for a new boiler.

The Energy Saving Trust states that the average cost of replacing a boiler is £2,300. However, it can cost between £1,600 to £4,500+ depending on the boiler’s complexity and the job.

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Affording to heat your home can be costly

New Boiler

The survey shows that households only have £770 to cover household repairs costs. This is £1535 lower than the average boiler replacement price.

The Energy Company Obligation scheme was launched by the government in April 2013. It helps low-income, fuel-poor, and vulnerable households to get a free replacement boiler for their existing boiler.

The scheme is eligible for around 240,000 households, but this only represents 2.48% of those who can’t afford a boiler.

Boiler cover if you can afford it?

These figures are often used by boiler insurance companies to encourage boiler cover which to be fair makes sense if you can afford to pay it and don’t want a heft bill here and there.

However, if you don’t have the financial means to pay hundreds of pounds, boiler cover won’t make any sense but they can pay some or all of the cost of a new boiler if the time comes you end up with an unexpected broken boiler.

Additionally, many packages do not cover the cost of a new boiler, but only repairs for a broken boiler.

What if I don’t qualify for a free boiler replacement?

Pay Monthly Boiler Finance

It can be heartbreaking to realise that you don’t meet certain criteria for a free replacement boiler, especially if money is tight. However, there are other options to get a new boiler for less. One of these is to finance your boiler purchase.

Modern boilers can cost anywhere from £1,000 to £3,000. Therefore, spreading the monthly payment over a longer period of time is more feasible for some. If you have received a CCJ (County Court Judgement), within the last half-decade, you are unlikely to be approved for a monthly boiler program.

Monthly boiler finance plans are becoming more popular. They can be a lifesaver in the event that your boiler fails, but you’re not eligible to receive grant funding. To get the best deal, shop around and use price comparison tools to find the best deal.

Monthly finance plans for new boilers typically have no upfront deposit and come with monthly costs between £10 to £30. This will help you save money year after year on your energy bills.

Boiler Upgrade Scheme

Boiler upgrade program was announced in October 2021 as a part of the government’s ‘Heat and Buildings Strategy. Households will be eligible to receive up to £5,000 towards replacing their existing oil or gas boiler with a low carbon heating system such as a heat pump.

With free boiler grants a thing of the past, the £450m boiler upgrade scheme, which will allow 90,000 heat pump installations over the next three years, will be available starting in April 2022. This grant could help you get low-carbon heating sooner than a gas boiler.

A heat pump works best in energy-efficient homes that have good insulation. Replacing an old inefficient boiler can also save your money on your bills.

Rent a boiler & pay monthly for it


You can rent a replacement boiler, or get a monthly payment for a boiler, if you are not eligible for a boiler grant or free replacement. This service is offered by many companies and can be used to spread the cost of a new boiler. You don’t have to pay an upfront fee. Instead, you pay monthly payments, which cover the cost of the boiler and the installation, as well as any repairs, maintenance, and servicing costs that may be required during your contract.

The boiler becomes yours once you have paid all the fees. A boiler rental is a commitment that will last a long time. Contracts can be extended for up to 12 years. Most boiler-rental companies offer different contract lengths.

Your monthly payments will be higher if your contract is shorter, but you’ll get your boiler sooner if your contract is shorter. Many companies offer the option of paying a deposit upfront.

This will reduce your monthly payments. You should also read the fine print to determine if your monthly payments will increase or are fixed.

You should also check the penalties for missing payments. You might be subject to penalties if you are late on your payments. This could lead to a sudden increase in the cost of your monthly bills.

If you are looking to move before the contract is over, renting may not be the best choice. Renting is often a better option than buying a house.

You will have to pay the entire balance off in one payment if you decide to move. Renting could be an option if you are unable to pay the upfront cost for a new boiler or need a one-time payment that covers everything related to your boiler. You should be aware that renting a boiler will require a commitment for many years. This can make it more expensive long-term.

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