Boat finance and boat mortgages available from marine finance companies

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Boat Financing

This guide to Boat Financing is intended to provide guidance to the process of obtaining finance to buy your boat.

First, talk to a Marine Finance company, a no-obligation discussion with a financial broker can save you time and trouble later. Additionally they may provide an 'offer in principle (subject to later approval)', giving you negotiating power.
Choose the boat that suits your budget and lifestyle; factors to consider might include age, condition, the cost of additional equipment, refitting etc. See buying a boat.
Make an offer, subject to a survey, a valuation and evidence of title. This must also include a VAT paid invoice if the purchase price is inclusive of VAT and the vessel is built after 1985.
Let the finance company know all the details, so they can arrange the relevant documentation.
Arrange a survey and valuation using a professional, independent Yacht surveyor. Go to our Professional Organisations page for details and links of all the major UK and European Maritime Associations.
If the survey and valuation are satisfactory, submit them to the finance provider and arrange a completion date and insurance cover.
To avoid any delays, make sure all documentation is signed and returned to the finance broker.
As your funding is via a Marine mortgage the finance broker will contact the vendor and check on title and VAT status. It is imperative this is in order for the mortgage to proceed.
Upon approval, funds will be forwarded to the vendor.
The boat is delivered to the agreed destination and if the finance broker requires the boat to be registered they may be able to arrange this for you or go register and pay online at https://mcanet.mcga.gov.uk/ssr/ssr/.

Boat Financing