Can I pay monthly for a new boiler with a bad credit history?
At Hassle Free Boilers we can perform a soft credit check for customers who want to pay monthly for a new boiler, who may not have a perfect credit history. And we offer options with or without a deposit too.
Even if you haven’t got a perfect credit history, but you’re looking for a new boiler, it’s still worth getting a quote from us. Lots of people are approved for a new pay-monthly boiler with our affordability credit check. A soft credit check does not appear on your credit history or impact your credit score.
The key red flags that can cause someone to fail our credit check are:
- Active (unsatisfied) CCJs
- Current insolvency or IVA
- Mortgage currently in arrears
- Other accounts currently in default
If any of these apply to you, the options available to you are:
- You can buy a boiler and we can help identify the right boiler to suit your budget and needs – they start at just £1,299 and that includes a 2 year manufacturer’s warranty.
- You might like to get your partner or a family member to apply to us.
- Maybe you could ask friend to buy the boiler using their credit and you repay them.
We have explained in further detail the credit check red flags and if the above options apply.
IVA (Individual Voluntary Arrangement)
An IVA is a contractual agreement between you and your creditors (the people you owe money to) to repay your outstanding debts, either in full or in part. They are contractual because they have to be administered by a licensed insolvency practitioner, who is usually a qualified lawyer or accountant.
A default on an IVA will appear on your credit report for a minimum of six years from the date of the arrangement and longer if the arrangement lasts more than six years. If you are still in an IVA then the above options are your best chances of moving forward with getting a replacement boiler.
CCJ (County Court Judgement)
If you get a county court judgment (CCJ) or a high court judgement, it will stay on the Register of Judgements, Orders and Fines for 6 years. If you have had a CCJ that has been settled then we can probably help you. However, if the CCJ has not been settled than we are unlikely to be able to help.
Bankruptcy is a legal status that usually lasts for a year. However, it will stay on your credit report for seven years. The above options are your best ways of moving forward.
Mortgage currently in arrears
In order to get credit you would need to make sure that your mortgage on your house is not in arrears. If your mortgage is in areas then again, the above three options would apply.
Other accounts currently in default
If you have taken out credit elsewhere and are behind on your payments, with no arrangement to pay, you probably understand that a finance house would be very suspicious about lending you more money.
Boiler Quote with Bad Credit History
If you believe that one of the solutions above applies to your credit history, please don’t be put off from getting a quote from our boiler experts. Our soft credit checks won’t affect your credit score, you could still be approved for a new boiler or you might be surprised how inexpensive a new boiler will be for you.