Old unreliable oil combi boiler versus wet system electric boiler?

oliveoil54

Help our oil combi boiler potterton statesman flowsure is on the blink constantly, OH keeps it going with "elastic bands", & am fed up with something going wrong everytime we switch back on again after being away. Currently the Pressure gauage is showing 95 & the bar is approx 2.5. Water is too hot & radiators not hot enough. Has checked everything and is going to fit new thermostat control, which has always been inexact, as temp measure.

Our oil bill for the last 33 weeks was nearly £1200 therefore £1800 per annum & our current elec is approx £500+ per annum total £2300 per annum.

We also have a morso multi fuel stove, and unlimited free access to wood as fuel, this heats one room & the chimney! If cost effective we may consider a stove with back boiler. Our existing oil boiler & pipes are situated in the small utility room 3 rooms away from the stove approx 28ft away.

We live in a 2 bed detached stone cottage in SW Scotland, not wonderfully insulated but we are planning on improving where we can. The ground floor rooms are 10ft high & have approx 8-9ft height in loft which we intend to make a bedroom/bathroom. There is no hot water tank or header tank.

My question is do we keep repairing the old boiler & paying for the ever increasing cost of oil?
Or pay out at least £3000 to replace oil boiler & put up with oil costs?
Or do we look at installing an electric wet boiler or Air to Air Heat Pump or both. The disadvantage being that A-A Heat Pump works better with under floor heating not our small radiators & also the possible massive cost of the electricity needed to run the system so that it is warm enough for us, esp given last winter and we are retired so use the heating most of the day in cold weather?

Also is there any way if we bought a multifuel stove with back boiler that we could utilise the free heat it would generate in tandem/together with existing/or new central heating system, esp given our lack of a 1st floor & only 8ft head height in loft?

I have done a lot of research and some people advocate electricity as the new 'gas' for rural areas (no gas supply), some say forget the cost & stick with oil.

I would really appreciate any advise re best cost effective options available.

Sorry for long post! Please help!