2 min Read
18 Feb 2010

Written by Damien

Damien is one of the most widely quoted money and investment experts in the national press and has made numerous radio & TV appearances. He created MoneytotheMasses.com while working in the City when he became disillusioned with the way the public were left to fend for themselves because they could not afford financial advice.

More about Damien

Money tip #7 – Bag a new boiler on Gordon (but hurry!)

December’s Pre-Budget Report (PBR) largely went unnoticed by the general public unless of course you are a pensioner with a love for playing bingo. But Alistair Darling also announced another harebrained scheme, this time one aimed at cutting carbon emissions, reducing fuel bills and providing work for the heating industry. The Boiler Scrappage Scheme provides eligible claimants with a £400 voucher to be used against the cost of replacing their old G-rated boiler with a new modern A-rated boiler, or indeed a renewable heating system.

The government has earmarked £50million to fund this scheme which means that 125,000 households could benefit. So far 70,000 households have made a claim meaning that another 55,000 vouchers are still up for grabs. But, given that an estimated 3.5million hones are said to be eligible you will need to move fast if you want to make a claim as funds are running out.

Full details on the scheme, including eligibility criteria, can be found here at the Energy Saving Trust website. But in short:

If you are a householder (including tenants) under 60 you can only apply for the scheme if the G-rated boiler you are scrapping is in working order and is the main boiler used to heat the home. If you are a householder (including tenants) and 60 or over you can apply for the scheme regardless of whether the G-rated boiler you are scrapping is in working order.

So if your boiler is due for replacement then it would be wise to act now before it packs up. Not only would you get £400 off the bill, you would also reduce your annual energy bill by around £200 - £235. Furthermore, by acting now before your boiler actually gives up the ghost you will avoid paying a plumber's extortionate emergency call out fees!

KERRRCHING!!!

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