Condensing boilers use the exhaust heat that's normally wasted in conventional boilers to help heat the water. An electric heater doen't need this, since there's no exhaust heat. There are several electric heaters available that will supply instant hot water from the cold mains. Have a look on Google for 'tankless electric water heater'.
They are fine for what they do, but it won't save you a shed-load of money - especially if you currently heat your water using immersion heater on a night-rate tariff.
But if you live in a hard water area you MUST have a water softener (or have the ability to clean it out). These things are just like a giant kettle and they get just as furred up.