Nobody wants to be without hot water and heating, especially in the colder months, but what happens if your boiler breaks down? Repairing or replacing it can be expensive and finding the cash at short notice can be tough.
Don’t try and fix it yourself
Unless you are a qualified heating engineer or plumber, do not try and fix your boiler yourself. You might end up making things worse or voiding any warranties.
Investigate the problem as much as you can, for example, check the pilot light is lit, but if you can’t find an obvious solution, then it’s time to call in an expert.
If you live in rented accommodation, then you should report the broken boiler to your landlord. They should then arrange for it to be repaired as soon as possible. They may have boiler insurance or a preferred supplier, so check with them first before calling anybody else out.
If you own your own home, then you will be responsible for repairing or replacing the boiler.
You might be worried about the cost, but leaving it unchecked could be a safety issue. Your boiler could be leaking carbon monoxide or gas which might put you and your family at risk.
As well as the safety aspects, a faulty boiler could be costing you money on your energy bills by not running efficiently.
The first thing to do is to check your boiler warranties or guarantees. If it was installed recently, you might not have to pay for the repair. If you have boiler insurance, check to see what you are covered for and how to claim before you call anyone out.
The next step is to call in a qualified heating engineer to look at your boiler. Make sure they are qualified – if not, they could make things worse and cost you more in the long run.
If your boiler is old, it might be more cost-effective to replace it. Although the initial cost might be more expensive than a repair, a new boiler will probably be more energy-efficient, and it is less likely to break down.
Once you know the cost to repair or replace the boiler, you can then decide how to fund it.
Repairs and replacements can be expensive, so you might need to borrow some money to cover the cost. Depending on your financial circumstances, you might want to consider:
- Interest-free finance – some heating companies offer interest-free finance on new boiler installations
- Credit card – look for credit cards with long interest-free periods if possible
- Bank loan or overdraft – find out whether you are eligible for a loan from your bank
- Cash loan – a quick cash loan, like the ones offered by Morses Club, can be a good option if you don’t want to be tied into a long-term loan
Before deciding which option is best, ensure you understand the terms. Some lenders don’t offer small loans, meaning you may have to borrow more than you need. This could mean getting tied into a long-term loan you don’t want.
Lengthy application processes can also mean delays in getting your boiler fixed, which isn’t ideal if it breaks down mid-winter.
Consider which solution is best for your circumstances and don’t apply for too many different forms of credit at once as it could damage your credit score.
Unexpected events such as your car or boiler breaking down can put a real strain on your time and your finances. At Morses Club, we provide cash loans for these emergencies.
The application process is straightforward, and we’ll approve your loan face-to-face. If approved, we deliver the money straight to your door and collect your repayments directly from you in person. To learn more about our loans, visit our about us or how it works pages.
