A poor credit history doesn't necessarily mean you can't access boiler finance, but it does make approval less certain. Here's an honest guide.
How credit checks work for boiler finance
Our finance partner conducts a soft credit check as part of the application. This doesn't leave a mark on your credit file. If the initial soft check looks positive, a full credit check is carried out for the formal application.
What affects approval?
Key factors include: credit history, income and employment status, existing debt levels, and electoral roll registration. Contrary to popular belief, you don't need a perfect credit score — many customers with average scores are approved.
Alternatives if finance is declined
If your application is declined, there are still options:
- Pay a deposit: Some lenders approve lower loan amounts with a deposit
- ECO4 Scheme: If you're on certain benefits, you may qualify for a free or heavily subsidised boiler through the government's ECO4 scheme
- Buy Now Pay Later: Some providers offer deferred payment options
- Local authority grants: Some councils offer assistance for homeowners on low incomes
We'll always try to find a solution. Call us on 01536 000 000 to discuss your options.