Boat finance/marine mortgage

[Guest]

Hello all,

 

I'm contemplating buying a boat and wondered if anyone can recommend a finance company?

 

Thanks in advance!

 

Alastair

[Alan de Enfield]

There are a few companies that will finance 'expensive' boats (yachts etc) but I think that for the 'inland waterways' market , they have all 'pulled out' of offering finance - although, it was reported recently that someone had found a company.

 

You will probably stand more chance of finding 'someone' for a personal loan, rather than a loan on a depreciating asset that can easily be sold or 'taken away' without any paperwork.

[Athy]

Yes, there are a couple - but you would be better advised to save up for your boat and buy it when you have enough money in the bank, otherwise the interest charges will make your purchase more expensive than it needs to be.

[Robbo]

If you need less than £25k then any bank can offer a unsecured loan.

Yes, there are a couple - but you would be better advised to save up for your boat and buy it when you have enough money in the bank, otherwise the interest charges will make your purchase more expensive than it needs to be.

If they are planning to liveaboard then any decent loan is better than renting.

[Athy]

If you need less than £25k then any bank can offer a unsecured loan.

 

If they are planning to liveaboard then any decent loan is better than renting.

Possibly - though the O.P. did not mention any intention to live on the boat.

[Robbo]

Possibly - though the O.P. did not mention any intention to live on the boat.

That's why I said if they are planning to liveaboard!

[grahamjnewman]

Arkle finance and Zebra finance lend on narrowboats. Details on google

[Guest]

Thanks all for the tips! Totally aware about interest charges. Sadly for some of us, it's not possible to fund such a purchase with cash and so we've got to take a hit with paying by finance. I would be intending to live aboard. I was renting a boat a couple of years ago in London for 12 months and left the country two years ago. I'm set to return sometime next year with plans to return to living on the cut with a bit more knowledge and experience of living aboard.

Arkle finance and Zebra finance lend on narrowboats. Details on google

 

Many thanks, I'll check them out.

[Mike Todd]

Thanks all for the tips! Totally aware about interest charges. Sadly for some of us, it's not possible to fund such a purchase with cash and so we've got to take a hit with paying by finance. I would be intending to live aboard. I was renting a boat a couple of years ago in London for 12 months and left the country two years ago. I'm set to return sometime next year with plans to return to living on the cut with a bit more knowledge and experience of living aboard.

 

Many thanks, I'll check them out.

The boating mags and newspapers advertise two or three. I checked them out recently as an option but it was almost the most expensive one going.