Yes, in most cases you can get finance for a new boiler, as long as you pass a credit check and meet the lender’s criteria. LGH Plumbing and Heating works with a broker to offer finance options for new boiler installations for homeowners across Leigh, Warrington, Wigan, and the surrounding areas, so you can spread the cost instead of paying the full amount upfront. It isn’t automatic for everyone, though, so it’s worth understanding how it actually works before you apply.
How Does Boiler Finance Actually Work?
Rather than lending the money directly, LGH introduces customers to Tradehelp Ltd, a credit broker authorised and regulated by the Financial Conduct Authority. Tradehelp then arranges finance through Novuna Personal Finance, a trading style of Mitsubishi HC Capital UK PLC.
In practice, that means you agree the job and price with LGH, Tradehelp handles the credit application and checks, and, if approved, Novuna provides the loan to cover the cost of the boiler and installation. LGH doesn’t receive a fee for introducing you to Tradehelp.
What Could Repayments Look Like? A Representative Example
Tradehelp publish representative examples based on a typical cash price with a minimum 25% deposit. For a £2,500 job, two of the options shown are:
- 0% APR over 12 months: £625 deposit, then 12 monthly payments of £156.25, with no interest charged and a total amount payable of £2,500.
- 10.9% APR over 10 years: £625 deposit, then monthly payments of £25.19, with total interest of £1,147.80 and a total amount payable of £3,647.80.
These are representative examples, not a personal quote. The rate, deposit and term you’re actually offered will depend on your own circumstances and the outcome of your credit check.
What Do Lenders Check Before Approving Finance?
Every finance application goes through a credit check and standard affordability checks. Lenders must complete and approve these checks before any work starts, so it’s worth applying early if you’re planning work for a specific date, such as before winter.
Approval and the terms you’re offered depend on your individual circumstances and the lender’s criteria. You can’t guarantee finance will be approved, or on what terms, until you’ve applied.
What Does Boiler Finance Typically Cover?
Finance can cover the cost of the new boiler and its installation, including labour, parts and standard installation work. As a guide, boiler prices on their own start from around £2,200, including installation and VAT, for an entry-level A-rated model, rising for higher-output or larger boilers, though the exact cost for your home depends on the system, pipework, and any extra work involved.
Ask for a written breakdown of what’s included in the finance amount, and what would count as an extra cost on top, before signing anything.
Your Right to Change Your Mind
UK consumer credit agreements normally include a cooling-off period, and LGH’s finance arrangement includes a 14-day cooling-off period from the date of the agreement. If you cancel within that window, you’d need to settle the full outstanding balance rather than continuing the finance, so it’s worth reading the exact terms Tradehelp or Novuna send you rather than assuming how it works.
Common Questions About Boiler Finance
Is LGH the lender for boiler finance?
No. LGH introduces customers to Tradehelp Ltd, a credit broker, which arranges finance through Novuna Personal Finance. LGH doesn’t lend money directly and doesn’t receive a fee for the introduction.
Will I definitely be approved for finance?
Not automatically. Approval depends on a credit check and affordability assessment carried out by the lender, and terms can vary between applicants, so it’s worth applying early rather than assuming approval.
Is the 0% option always available?
Not necessarily for every job or every applicant. Which options you’re offered, including whether 0% is available, depends on the lender’s assessment of your application at the time.
What happens if I cancel within the cooling-off period?
LGH’s finance option includes a 14-day cooling-off period. Cancelling within that window means paying the full outstanding balance instead of continuing with the finance agreement, so read the terms carefully.
Does finance cost more overall than paying upfront?
It can, depending on which option you’re offered. The 10.9% example above adds £1,147.80 in interest over 10 years, while the 0% example adds nothing, so it’s worth comparing the total amount payable, not just the monthly figure.
The Practical Next Step
Getting finance for a new boiler is straightforward in principle, though approval and terms depend on your own circumstances and the lender’s checks. If you’d like to talk through your options, including whether finance suits your situation, get in touch with LGH, and we’ll talk you through the next steps.