Spread the cost today with payl8r

The ECO boiler grant offers qualifying low-income and vulnerable households access to heating measures such as underfloor insulation, boiler installation, and smart heating controls. This helps to reduce heat loss, reduce energy consumption and reduce the impact on the environment. 

There is a common misconception that boiler grants are free. The funding available is based on the size and type of property that you own. Often it is free, but in some cases, a contribution is required. 

We understand that for many low-income and vulnerable households paying the contribution in one lump sum might be difficult. This is why we’ve teamed up with Payl8r to offer you a flexible repayment plan. 

What is Payl8r?

Payl8r offers flexible repayment plans which allow you to spread the cost up to 12 months. You have complete control and you can decide how you want to pay it back. 

How to qualify for Payl8r funding?

In order to qualify you must:

  • Have no CCJs within the last 3 years

  • Have no accounts in default

  • Be a UK resident

  • Use online banking 

  • Have a regular source of income

Payl8r performs a soft credit check to see if you qualify, which won’t impact your credit rating. However, if you fail a traditional credit check, Payl8r won’t just reject your application. Instead, you’ll be offered the option to assess your affordability through OpenBanking. 

What is OpenBanking?

Payl8r offers finance to customers based on affordability as well as credit. This means that Payl8r can lend to those who have a thin credit file. Rather than rejecting your application, Payl8r will give you an option to electronically submit a 90-day bank statement in order to assess your affordability. 

OpenBanking is a series of reforms to how banks deal with your financial information, called for by competition watchdog the Competition and Markets Authority (CMA). This means that all UK-regulated banks will have to let you share your financial data such as your spending habits, regular payments, and companies you use (basically your bank, credit card, or saving statements) with authorized providers with your permission. 

You can learn more about OpenBanking by visiting Money Saving Website. 

How to apply

  • If you decide you want to spread the cost of your contribution, speak to your installation manager when they call you to arrange your install.

  • They will send you an email link with the application

  • Complete your 60 seconds application

  • Enter pink to submit your application

  • If approved your deposit will be taken

  • After your application has been approved your installation manager will call you to book an install. 

What is the cost of using Payl8r?

There is an application fee of £4.95. Interest rates range from 0%-4% per month. Interest rates will vary subject to credit.