Boiler Finance: find £0 Deposit & 0% Interest Deals
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We cover all you need to know about boiler finance in our comprehensive guide. Boilers can be a big expense, often at short notice, so understanding all the ways to pay that are available to you can be a big help. In the guide below we cover what boiler finance is, the different types available to you, and how much each will cost in total repayments - read on to find out all you need to know.

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What is Boiler Finance
Boiler finance is a payment arrangement that allows you to flexibly pay for your new boiler installation. Instead of paying out a large sum all at once, you can pay for your new heating system over an agreed length of time in monthly instalments. This is a great option for those who can’t afford to pay large sums of money upfront – the monthly instalments enable you to get your boiler using a payment method that suits your budget.
How Does Boiler Finance Work
Essentially boiler finance is a loan from a lender to cover the cost of your new boiler, often available directly from the boiler installer, who acts as a broker for the lender.
The cost of your new boiler will be quoted and the available finance packages offered to you by the installer. Many installers advertise whcih finance packages they offer so it's easier to find the right one to suit your needs.
The lender will pay the boiler installer once they have installed your new boiler and you will tehn pay the lender back across multiple monthly payments until the loan is repaid.

Will I be credit checked for boiler finance?
Yes, the lender will perform a credit check, the results of which will dictate which boiler finance deals you are able to get.
Access to boiler finance packages is not guaranteed and will be subject to status. As with all finance there are options available to all levels of credit ratings with the interest rate usually being bigger the lower the credit rating.
Boiler Finance Types
Boiler finance is available from 0% APR, typically 9.9% APR and right up to 20% APR, all have options on how much despoit is required from £0 up to 50% of the boiler cost.
There are many different types of boiler finance available all with their own pros and cons:
- Buy Now Pay Later (BNPL): your boiler is installed at no immediate charge combined with an initial payment holiday (typically 6 months or a year). After the payment holiday the motnhly repayments kick in for the duration of the loan.
- Interest free / 0% APR: The boiler loan does not charge any interest, so you only pay what the boiler costs divided by your total number of monthly payments.
- Interest bearing finance: the boiler loan does charge you interest, so each of your monthly payments will be the cost of the boiler plus the interest charged, meaning the total amount repaid is higher than the cost of the boiler.
- £0 deposit: No initial deposit as the whole cost of the boiler is covered by the loan.
- Poor / bad credit: If you have poor credit, you may still be able to access finance, however interest rates can be high.
New Boiler Finance Example Loans
It can be helpful to look at some new boiler finance loan examples to help you get a better idea of how the process works. In the table below, we outline examples of the types of interest rates that can be applied with the various finance options, as well the different time lengths that can be agreed.
| Boiler Loan Type | Interest Rate (%APR) | Term of Loan |
|---|---|---|
| Buy Now Pay Later | 0% | 1 year |
| Interest Free | 0% | 1 - 3 years |
| Interest Bearing | 9.9% - 13% | 2 - 10 years |
| £0 deposit | 0% - 13% | 2 - 10 years |
| Poor Credit | 15% - 20% | 2 - 10 years |
As you can see, Buy Now Pay Later and Interest Free credit offer 0% APR deals, and the terms of the loans range from one to three years. Interest bearing, £0 deposit and options for those with poor credit can all last as long as 10 years, with the latter option tending to incur the most interest.
0% APR Interest Free Boiler Finance
0% Interest free boiler finance is widespread and available from many boiler installers. You pay no interest on the amount you borrow to fund your boiler and can easily find plans for 12, 24, 36 & even 48 months, up to 100% of the total cost of your new boiler. This boiler finance plan is very popular although the credit scores needed to access the plans are higher than standard interest bearing boiler finance plans.
0% Interest Free Boiler Finance representative example
Below is an example of repayments for a loan at 0% interest with the cash price of the boiler being £2,500. The table breaks down both £0 deposit and 50% deposit payment plans. The potential length of the term is 24 months. As you can see, the 50% deposit option offers lower monthly payments.
| 0% Interest Free Boiler Finance Example | £0 deposit | 50% deposit |
|---|---|---|
| Cash Price | £2,500 | £2,500 |
| Deposit | £0 | £1,250 |
| APR | 0% | 0% |
| Amount of credit | £2,500 | £1,250 |
| Loan term | 24 months | 24 months |
| Interest Payable | £0 | £0 |
| Monthly Repayments | £104.17 | £52.08 |
How 0% interest free boiler finance works
0% interest or interest free boiler finance works by allowing you to pay for your new boiler installation in monthly instalments without incurring any extra fees. Interest is the price you pay for borrowing, but with interest free credit deals, you avoid paying these fees and pay solely for the boiler installation.

0% interest can be expensive for boiler companies to offer as finance companies tend to charge a premium as the deal generates no interest. However, many boiler companies decide to provide an interest free option nevertheless as the deal appeals to customer and allows them to get the boiler system they need installed.
Pay Monthly boiler finance
Pay Monthly boiler finance means you can spread the cost of your new boiler by agreeing to repayment terms and making payments on a monthly basis. This can cover up to 100% of the actual cost for the new boiler with installation included. As with most loans, you’ll need to go through an approval process, this will most definitely include a credit check. You can choose from a number of finance deals and select the best option for you.
Pay Monthly boiler finance representative example
Easy and affordable pay monthly boiler finance deals are available to help you spread the cost of your boiler by splitting it into manageable monthly instalments. An example of this kind of payment plan is shown in the table below. As shown, if you choose to purchase a new boiler at a cash price of £2500, with a deposit of £1250 with a 7.9% APR, you’ll pay £14.92 monthly over a period of 120 months. The total interest payable is £540.53, so your total payment in full over the entire period will be £1790.53. Alternatively, with 12.9% APR which will increase your monthly payment to £18.07 over the same payable terms and total amount payable is £2168.99. The total interest paid for this deal in £918.99.
| Pay Monthly Boiler Finance Example | 7.9% APR | 12.9% APR |
|---|---|---|
| Cash Price | £2,500 | £2,500 |
| Deposit | £1,250 | £1,250 |
| APR | 7.9% | 12.9% |
| Loan amount | £1,250 | £1,250 |
| Total Payable | £1,790.53 | £2,168.99 |
| Loan term | 120 months | 120 months |
| Interest Payable | £540.53 | £918.99 |
| Monthly Repayments | £14.92 | £18.07 |
How interest bearing boiler finance works
Interest bearing boiler finance works in a similar way to normal boiler finance loans. You’ll receive your new boiler straightaway and pay for it over an agreed period in equal monthly instalments. Interest is applied on top of the cost of the new boiler at a fixed rate.
Retailers offer interest bearing boiler finance to make it easier for customers to purchase a new boiler straight away without having to pay the full amount at once. Customers can pay for their new boiler installation over a set period of time by making a series of equally monthly manageable repayments. Interest will be charged at a fixed rate, helping the customer manage the outgoing expenses as the repay is the same amount each month. People with poor credit are often charged interest at a higher rate.
Buy Now Pay Later boiler finance
For customers who are unable to pay a deposit, or if you’d prefer to repay the entire loan for your boiler after the first year by spreading the cost, then Buy Now Pay Later finance is a good choice. You can get your new boiler installed and after it’s fitted, your payments will be deferred for the first year. So, for the first 12 months you’ll be free from making any payment. After the 12 month period has ended, you can choose to pay for the heating system in full or you can take out a monthly plan with an APR rate over a set period.
How Buy Now Pay Later boiler finance works
Buy Now Pay Later boiler finance basically gives you a payment holiday for the cost of your new boiler. With this type of boiler finance, you have the option to buy a boiler with nothing to pay for an agreed time period – usually 12 months. If you repay the agreed amount within the deferral period then there is no interest to pay, and if you choose to pay it early then you’ll most likely be charged an early exit fee. If you do not pay the full amount within the stipulated period, interest will have accrued from the start of the loan agreement, and you’ll begin making monthly payments. At the end of the deferral period, interest will only applicable on any outstanding amount at the end of the deferral period.
No Deposit boiler finance
No deposit or £0 deposit boiler finance can be a good option depending if you don’t have any savings for a deposit as it’s a quick and easy way to help you finance your new boiler. This finance option allows you to spread the cost of the boiler and breaks the price into affordable monthly repayments.
No Deposit boiler finance representative example
With £0 deposit boiler finance, you can spread the cost of your new boiler system over an agreed timeframe. You usually have the option to make additional payments at any time – this could reduce the term of the agreement and the total interest payable. An example of this arrangement is shown in the table below. For a boiler with a cash price of £2500 on £0 deposit, you can get an APR rate of 7.9% or 12.9%. With 7.9%, the total amount repayable is £3,581.7, broken down into monthly repayments of £29.84. With 12.9% APR, you’ll pay a total amount of £4,337.97, and this can be broken down into monthly payments of £36.15.
| No Deposit Boiler Finance Example | 7.9% APR | 12.9% APR |
|---|---|---|
| Cash Price | £2,500 | £2,500 |
| Deposit | £0 | £0 |
| APR | 7.9% | 12.9% |
| Loan amount | £2,500 | £2,500 |
| Total Payable | £3,581.07 | £4,337.97 |
| Loan term | 120 months | 120 months |
| Interest Payable | £1,081.07 | £1,837.97 |
| Monthly Repayments | £29.84 | £36.15 |
How No Deposit boiler finance works
With a No Deposit boiler finance deal, you can avoid paying anything upfront for the cost of your new boiler installation. Instead for paying for the boiler in full, you can spread the cost with affordable monthly payments over an agreed term. However, bear in mind that interest can rack up quickly if you go beyond the specified period of months. You can go for a no deposit deal with low monthly payments, but the amount repayable amount overall will be higher.
Poor or Bad Credit boiler finance
If you’ve got poor credit, don’t give up on getting a new boiler too quickly, as you may still be able to get a boiler finance deal. Consumers with poor credit can find lenders or finance companies that specialise in providing loans to individuals with low credit scores. The lenders will consider other factors such as income, employment, credit scores etc when evaluating your loan application and they tend to be more lenient with their credit requirements. This makes it easier for people with poor credit to pay for their new boiler installation.
Poor or Bad Credit boiler finance representative example
People with poor credit can still get access to boiler finance. An example of the type of boiler finance plan that may be available to those with poor credit it shown in the table below. As displayed, someone with poor credit can be offered an APR of 19.9%. This is a higher rate, but it’s offered because those with poor credit are considered high risk. For a boiler with a cash price of £2,500, £0 deposit is needed and monthly payments of £45.51 are required. The total loan repayable is £5,461.06 over a total term of 120 months.
| Poor Credit Boiler Finance Example | 19.9% APR |
|---|---|
| Cash Price | £2,500 |
| Deposit | £0 |
| APR | 19.9% |
| Loan amount | £2,500 |
| Total Payable | £5,461.06 |
| Loan term | 120 months |
| Interest Payable | £2,961.06 |
| Monthly Repayments | £45.51 |
How Poor or bad Credit boiler finance works
Poor credit boiler finance works by allowing people with low credit scores to access boiler finance so that they can afford to get a new heating system installed. These deals tend to have a higher interest rate, such as 19.9% APR, but this is to provide lenders with more security as those with poor credit are generally considered to be high risk. Just as with any other finance deal, poor credit boiler finance spreads to the total cost of the new boiler installation into monthly instalments – the higher APR rate is added on top.
What are the best boiler finance deals
There are a number of boiler finance deals available for you to choose from. From £0 deposit to 0% interest and interest-bearing boiler finance, there are different arrangements on offer. The best deal for you will depend on your individual financial circumstances. For example, if you don’t have any savings available to pay for the boiler upfront, you could choose a £0 deposit deal or Buy Now Pay Later. With most boiler finance options, you have the option to spread the cost of your new boiler over an agreed timeframe to help you manage your payments.
Boiler finance deals from boiler installers
| Installer | pay monthly | buy now pay later | 0% |
|---|---|---|---|
| BOXT | 11.9% APR over 36, 60 & 120 months | 12 month holiday then 11.9% APR over 48 months | 0% APR over 12, 24, 36 & 48 months |
| Heatable | 11.9% APR over 36, 60 & 120 months | 6 & 12 month holiday then 16.9% APR over 36 months | 0% over 12, 24, 36 & 48 months |
| iHeat | 12.9% APR over 36, 48, 60, 96 & 120 months | not available | 0% APR over 12 & 24 months |
| Warmzilla | 13.9% APR over 36, 48, 60, 96 & 120 months | not available | 0% APR over 12 & 24 months |
| Boiler Central | 13.9% APR over 36, 48, 60, 96 & 120 months | 12 month holiday then 16.9% APR over 60 months | 0% APR over 12 & 24 months |
| British Gas | 9.9% APR over 120 months | not available | 0% APR over 24 & 36 months |
| Clever Energy Boilers | 11.9% APR over 36, 48, 60, 96 & 120 months | 9 month holiday then 13.9% APR over 120 months | not available |
How you apply for boiler finance
Once you’ve found a boiler deal that you’re happy with, you can then go on to apply for boiler finance. You’ll be informed of the boiler finance options available, then just select the best option for you. You’ll then be taken to a page to complete the application process. Your personal information and credit score will be assessed and you should get an instant decision. If you’re approved, your new boiler installation will go ahead and your payment plan will be set up.
How to choose the right boiler finance plan
The best way to choose the right boiler finance plan is to do your research. Spend time comparing the options available to you then consider which one is best for your individual circumstances. For example, if you’d prefer not to pay a deposit and want to just start off paying for your boiler monthly, a £0 deposit deal is probably the most suitable option. Other finance offers will be suitable for different circumstances.
Frequently Asked Questions
Who can apply for boiler finance?
Anyone over the age of 18 years old can apply for boiler finance. Your credit score will influence the type of boiler finance options available to you.
How can you finance a boiler?
You can finance a new boiler by finding a provider which offers boiler finance through approved lenders. You can apply online and if your application is approved, you can move forward with your new boiler installation.
Which boilers can you get on finance?
You can usually get any boiler you want on finance. From combi boilers to regular systems and system boilers, whichever option best suits the needs of your home should be available on finance.
Do all installers offer boiler finance?
Most installers offer boiler finance. You can double check this be researching online or calling the brand directly.
What is APR?
Annual Percentage Rate (APR) can be defined as the interest charged for borrowing. It represents the actual yearly cost of the loan and is expressed as a percentage.
Are there advantages to financing a boiler?
Yes, there are many benefits to financing a new boiler installation. For example, you can spread the cost of your new heating system into affordable monthly payments instead of having to pay the full amount upfront.
What happens to my boiler if I miss a payment?
If you miss a payment on your boiler finance plan, you can incur late fee charges and you credit score could be negatively impacted.
If you have bad credit, you could still access a boiler finance deal but the interest rate is likely to be higher.
Will I get credit checked applying for boiler finance?
Yes, if you apply for boiler finance most lenders will perform a credit check to assess your ability to repay the loan.
What is a boiler loan?
A boiler loan is financial arrangement which allows you to borrow the amount you need in order to pay for your new boiler installation. You’ll pay this loan back in monthly instalments.
Can I get a combi boiler on finance?
Yes, you could get a brand new combi boiler from brands like Worcester Bosch and Ideal on boiler finance.
Yes, you could get a brand new system boiler installed and pay for it using a boiler finance deal.
Yes, you could get a brand new conventional boiler installed with a boiler finance option like £0 deposit, 0% interest or interest bearing credit.
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