Finance Options for Your Boiler Installation

Spread the cost of your new boiler installation with our flexible finance options. We offer competitive rates, instant decisions, and a fully digital application process, making it easy to get the heating system you need today.

Finance Overview

Our finance solutions are powered by Stax, a trusted FCA-regulated finance platform that connects you with multiple UK lenders. This means:

Competitive Rates: Access to multiple lenders ensures you get the best available terms
Instant Decisions: Most applications receive a decision within minutes
No Hidden Fees: Clear, transparent pricing with no surprises
FCA Protection: All finance agreements are regulated by the Financial Conduct Authority
Flexible Terms: Choose from 3, 5, or 10-year repayment periods

Available Finance Terms

Flexible Payment Options

Flexible finance available on selected boiler models:

12-month terms: No deposit required, pay monthly with zero interest
24-month terms: No deposit required, pay monthly with zero interest

Subject to credit approval and specific boiler model eligibility.

Standard Finance Terms

For other boilers or longer terms:

3 years (36 months) - Representative APR: 12.9%
5 years (60 months) - Representative APR: 12.9%
10 years (120 months) - Representative APR: 12.9%

Representative APR shown. Your actual rate may vary based on credit assessment.

Deposit Options

No Deposit: Finance the full amount with no upfront payment
Optional Deposit: Pay 10-25% deposit to reduce monthly payments
Flexible Amounts: Choose any deposit percentage that suits your budget

How It Works

1. Get Your Quote

Complete our online quote form to:

Answer questions about your property
Select your preferred boiler model
Choose any additional services (MagnaCleanse, radiator upgrades, etc.)
See your total price

2. Choose Finance

Select your preferred finance terms:

Choose your repayment period (3, 5, or 10 years)
Select optional deposit amount (0-25%)
See your monthly payment amount instantly
Review the full representative example

3. Secure Deposit Payment (Optional)

For our hybrid finance option, you can pay a deposit upfront via Stripe:

Secure Payments: Industry-leading PCI-compliant payment processing
Card Payments: Accept all major debit and credit cards
Instant Confirmation: Immediate payment confirmation
30-Minute Session: Secure checkout link valid for 30 minutes
Protected Transactions: 3D Secure authentication for fraud protection

Your deposit payment is securely processed and held until your finance application is approved.

4. Finance Application via Stax

Complete your finance application through our secure Stax portal:

Quick Application: Simple online form (5-10 minutes)
Soft Credit Check: Initial assessment with no impact on your credit score
Personal Details: Name, date of birth, address, employment status
Financial Information: Income and expenditure assessment
Identity Verification: Secure document upload if required

5. Credit Assessment

Your application is sent to multiple FCA-regulated lenders:

Soft Credit Check: Initial affordability assessment (no credit file impact)
Instant Decision: Most applications decided within minutes
Multiple Lenders: Automatic submission to our panel of lenders
Best Available Terms: Matched with the lender offering optimal terms

Application Statuses:

Pending Decision: Your application is being reviewed by lenders
Referred: Sent to underwriter for manual review (1-2 business days)
Approved: Finance approved - contract ready to sign
Rejected: Application declined (alternative options may be available)

6. Contract Signing

Once approved:

Digital Contract: Secure electronic signature via Stax portal
FCA Disclosure: Full terms and conditions provided
Cooling Off Period: 14-day withdrawal right after signing
Installation Booking: Schedule your installation once contract is signed

7. Installation & Payout

After contract signing:

Installation Scheduled: Book your preferred installation date
Expert Fitting: Gas Safe registered engineers complete installation
Quality Guarantee: All work fully certified and guaranteed
Lender Payout: Funds released to Brainy Boilers upon completion

Our Finance Platform: Stax

What is Stax?

Stax (formerly Shermin) is an FCA-regulated finance broker that connects retailers with multiple consumer lenders. Rather than working with a single lender, Stax provides access to a panel of trusted UK finance providers.

Benefits:

FCA Regulated: Full consumer protection under FCA regulations
Multiple Lenders: Access to various lenders increases approval rates
Secure Platform: Bank-level encryption and data protection
Transparent Process: Clear communication at every stage
Webhook Integration: Real-time status updates to our system

Our Lender Panel

Through Stax, your application is considered by multiple established UK lenders:

High Street Banks: Major UK banking institutions
Specialist Finance Companies: Lenders focused on home improvements
Credit Unions: Member-owned financial cooperatives
Alternative Lenders: Modern fintech providers

Specific lender details are provided during the application process based on your credit profile.

Credit Checks Explained

Soft Credit Check (Initial Assessment)

When you start your application:

No Credit Score Impact: Does not appear on your credit file
Affordability Assessment: Checks income vs. expenditure
Eligibility Check: Determines likely approval without commitment
Pre-Qualification: Shows available terms before full application

Hard Credit Check (Final Approval)

Once you accept terms and proceed:

Credit File Impact: Recorded on your credit report
Full Assessment: Comprehensive review of credit history
Lender Decision: Final approval from specific lender
Agreement Creation: Generates legally binding credit agreement

Important: Only proceed to hard credit check stage if you intend to accept the finance offer.

Eligibility Requirements

To apply for finance, you must:

Age: Be 18 years or older
Residency: UK resident for at least 3 years
Employment: Have regular income (employed, self-employed, or benefits)
Credit History: Have a UK credit file (even if limited)
Bank Account: Hold a UK bank account for direct debit payments
Affordability: Demonstrate ability to afford monthly repayments

Representative Example

Example: £2,200 Boiler with 10-Year Finance

Cash Price: £2,200
Deposit: £0 (No deposit)
Amount of Credit: £2,200
Duration of Agreement: 120 months (10 years)
Monthly Repayment: £29.60
Rate of Interest: 12.9% p.a. fixed
Representative APR: 12.9% APR
Total Amount Payable: £3,552

This is a representative example. Your actual terms may vary based on credit assessment and boiler selection.

Payment Protection

Stripe Payment Security

All deposit payments are processed via Stripe, providing:

PCI DSS Level 1: Highest level of payment security certification
3D Secure 2: Advanced fraud protection and authentication
Encrypted Transactions: End-to-end encryption for all card data
Chargeback Protection: Dispute resolution through Stripe
No Stored Cards: Card details never stored on our servers

Finance Agreement Protection

Your finance agreement includes:

FCA Regulation: Consumer Credit Act protection
14-Day Cooling Off: Right to cancel within 14 days
Early Repayment: Option to repay early (may incur fees)
Clear Terms: All costs disclosed upfront
Ombudsman Access: Financial Ombudsman Service if issues arise

Refunds & Cancellations

Before Installation

If you cancel before installation:

Deposit Refund: Full refund of any deposit paid via Stripe
Finance Cancellation: Finance agreement cancelled (if within cooling-off period)
No Penalties: No charges for cancellation before work begins

After Installation

If you exercise your cooling-off right after installation:

Finance Cancellation: Finance agreement cancelled
Cash Payment Required: Installation must be paid in cash
Work Completed: Installation already done cannot be reversed

Why Choose Finance?

Manage Your Budget

Preserve Savings: Keep emergency funds intact
Predictable Payments: Fixed monthly amounts for easy budgeting
Immediate Benefits: Enjoy lower energy bills while paying over time
No Delay: Get your new boiler installed today

Competitive Advantages

Multiple Lenders: Better approval rates than single-lender finance
Instant Decisions: No waiting weeks for approval
Digital Process: Complete everything online
Transparent Pricing: No hidden fees or surprises
FCA Protected: Full consumer protection

Application Tips

Improve Your Chances

To maximize approval likelihood:

Check Credit Report: Review for errors before applying
Electoral Roll: Ensure you're registered to vote at current address
Stable Address: 3+ years at current address improves approval
Regular Income: Demonstrate consistent income
Low Credit Utilization: Keep existing credit balances low
Avoid Multiple Applications: Too many applications can reduce credit score

Information You'll Need

Prepare these details before starting:

Personal: Full name, date of birth, phone number, email
Address: Current address and 3-year address history
Employment: Employer name, job title, length of employment
Income: Annual gross income (before tax)
Expenditure: Monthly rent/mortgage, bills, other credit commitments
Bank Details: Account number and sort code for direct debit

Frequently Asked Questions

Will applying affect my credit score?

The initial soft credit check does not affect your score. Only the final hard credit check (after you accept terms) is recorded on your credit file.

Can I pay a deposit to reduce monthly payments?

Yes, you can pay a deposit of 0-25% of the total price. This reduces the amount you need to finance and lowers your monthly payments.

How long does approval take?

Most applications receive an instant decision. Some may be "referred" for manual underwriting, which typically takes 1-2 business days.

What if my application is declined?

If declined, you can:

Contact us to discuss alternative options
Pay in cash or via bank transfer
Reapply after improving credit profile

Can I pay off the finance early?

Yes, most finance agreements allow early repayment. Early settlement fees may apply - check your agreement terms.

Is the APR rate guaranteed?

The representative APR (12.9%) is indicative. Your actual rate depends on your credit assessment and may be higher or lower.

Get Started Today

Ready to spread the cost of your new boiler?

Get Your Quote: Complete our online form
Select Finance: Choose your preferred terms
Apply in Minutes: Secure online application via Stax
Install Tomorrow: Book your installation once approved

With competitive rates, instant decisions, and secure payments via Stripe, financing your new boiler has never been easier.

Important Information:

MPH Boilers is a credit broker, not a lender. Finance is provided by our panel of FCA-regulated lenders through Stax. Credit is subject to status and affordability assessment. Terms and conditions apply. You must be 18 or over and a UK resident. Missed payments may affect your credit score and ability to obtain credit in the future.

Representative example shown. Your monthly payments and total amount payable may vary based on the cash price, term selected, deposit amount, and your personal credit assessment.