Financing your Home Improvements
Georgios Boilers is a member of a scheme that allows us to include a loan option from Phoenix Financial Consultants (”Phoenix”) on all quotes for home improvement work.
Phoenix acts as a credit broker (it is not a lender) and can introduce you to a loan for the full cost of the home improvement 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 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.
Overpayments and early repayments can be made at any time. If you make overpayments 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 installer can give you any financial advice.
The table on page 2 shows the monthly repayment and the total amount repayable for a loan amount of £4,000.
|Loan Amount - £4,000||3 years||5 years||8 years||10 years|
|Total amount repayable over the period||£4611.22||£5037.78||£5721.21||£6205.12|
|Interest rate and Representative APR||9.9% (fixed)|
|Cash price of product||Optional deposit||Loan amount||Term of loan||Monthly repayment||Total amount payable (including deposit)||Rate of interest||Representative APR|
|£4,000||Nil||£4,000||5 years||£83.96||£5037.78||9.9% (fixed)||9.9%|
If you wish to apply for a loan, your installer quote contains a link to our website where you can complete the application.
If your loan application is approved, once you sign the loan agreement, your installer will arrange an installation date to suit you. Your first loan repayment will be taken by direct debit one month after the work is complete.