Your engineer is a member of a scheme which means he/she is allowed to introduce a loan option from Phoenix Financial Consultants Limited (“Phoenix”). This loan can only be used to finance central heating equipment.

Phoenix acts as a credit broker (it is not the lender) and can introduce you to a loan for the full cost of the boiler from a panel of lenders. Loan approval is not guaranteed and you will need to complete a short loan application which will assess your financial circumstances and your ability to repay the loan. Your credit file will be searched by the lender.

Key features of the loan

  • Loan terms available are 3, 5, 8 and 10 years
  • Interest rates available start from 9.9% APR. You may be offered a higher interest rate depending on your financial circumstances.
  • You can pay a deposit if you wish or apply to borrow the entire amount.
  • Over payments and early repayments can be made at any time. If you make over payments you will avoid future interest and the length of the loan will be reduced.
  • You will need to decide if the loan is right for you. Neither Phoenix nor your engineer can give you any financial advice. More details are contained in the attachment below.
  • The table below shows the monthly repayment and the total amount repayable for a loan amount of £2,500.Click edit button to change this text.
Loan Amount £2500 3 Years 5 Years 8 Years 10 Years
Monthly repayment £80.06 £52.48 £37.25 £32.32
Total amount repayable over the period £2882 £3149 £3576 £3878
Interest Rate and Representative APR  9.9% (fixed)

Representative Example

Cash price of
product
Optional
Deposit
Loan
Amount
Term of
Loan
Monthly
repayment
Total amount payable
(including depost)
Rate of
interest
Representative
APR
£2500 Nil £2500 5 Years £52.48 £3149 9.9% fixed 9.9%

Next steps

If you wish to apply for a loan, your boiler quote contains a link to our website where you can complete the application.

Click here to go to Phoenix Financial Consultants loan calculator to see what your monthly payments would be.

If your loan application is approved, once you sign the loan agreement, your engineer will arrange an installation date to suit you. Your first loan repayment will be taken by direct debit one month after the installation of the boiler.

Phoenix Financial Consultants Ltd (Company No. 7436334) is authorised and regulated by the Financial Conduct Authority (Financial Services Register No. 539195) and acts as a credit broker introducing loans from a panel of lenders.