Viessmann has teamed up with Hiber to add a new financing package that will enable installers to access and offer finance to their residential customers.
The partnership with both providers allows installers to become FCA-accredited, making it simpler to sell Viessmann products by offering flexible finance payment options on their installations.
Hiber provides instant quotations, a user-friendly platform to manage applications, and a team of dedicated financing experts who do the work behind the scenes. The scheme is for Viessmann boiler installations initially, with heat pumps to follow in due course.
James Carter, Multi-Channel Manager at Viessmann, stated: “By enabling installers of all sizes to offer competitive finance arrangements on their installations, we are levelling the playing field and making it easier for smaller businesses to compete with the large corporates.
“This will be another important step in supporting businesses and households through the energy transition as the country moves towards its net zero ambitions.” Finance options for boilers are becoming steadily more popular. While overall boiler sales were 41% higher in 2021 compared to 2020, financed boiler sales were as much as 102% higher*.
How does Hiber work?
The first step is for the installer to sign up to a Hiber plan and complete the necessary training (included as standard) to enable them to offer finance. There are a range of plans available to suit all installer business sizes, with the Standard plan starting at just £12 per month or £120 per year with no minimum term.
A representative example of the process thereafter is as follows, based on the Hiber Max plan and the typical cost for a straightforward Viessmann Vitodens 050-W boiler swap installation:
Interest free option – 24 months
Order value £2,500
Monthly payments £104.17
Total payments £2,500
Interest bearing 12.9% – 120 months
Order value £2,500
Monthly payments £36.16
Total payments £4,338.88
Interest bearing 12.9% – 60 months
Order value £2,500
Monthly payments £55.86
Total payments £3351.85
Once the customer has selected their preferred finance package, the installer is free to begin the installation work. After the work is complete, the installer will be paid the full amount for the job within five working days, helping them to maintain a positive cashflow situation.
Installers can also benefit from a series of rewards after completing transactions through the Hiber platform.
For more information on the finance packages available through Hiber, visit: https://www.hiber.com/partners/viessmann.
