Aviation FAQs | Lombard

Aviation FAQs | Lombard Aviation FAQs

Find answers to your questions on aviation mortgages and finance agreements

Can I buy from a private seller or am I restricted to dealers?

Either. We could help you with finance in both cases.

How do I ensure there is no existing charge on the aircraft?

Certain aircraft registrations record charges against their aircraft. The UK Civil Aviation Authority (CAA) and the US Federal Aviation Administration (FAA) both provide this service. For a nominal fee you can request a search that confirms the registered owner of an aircraft along with details of any charges placed over it. We'll undertake these searches before releasing funds. Contact us to discuss any specific registrations.

Do I need a professional survey and valuation?

If you are purchasing second-hand, we recommend you contact an accredited surveyor. Check their professional standing and make sure they've got Professional Indemnity Insurance before they start.

Do I need to register the aircraft or helicopter?

Yes. Registration is mandatory with the UK’s Civil Aviation Authority or the Federal Aviation Authority in the USA. Alternative registers can be considered – please contact our aviation team to discuss further.

Can I change the aircraft’s registration mark?

Yes, you'll just need to complete and submit the relevant forms and notify us of the change.

Can I charter the aircraft?

Provided we are made aware, you can charter your aircraft under the terms of the mortgage. The operator must have an Air Operator’s Certificate.

What happens if I need to have an engine overhaul?

We could be able to offer finance options for such overhauls, subject to status. Contact us for more information.

Will I need insurance for my aircraft or helicopter?

Yes – all aircraft must be comprehensively insured with a UK insurer, with our interest noted on the policy.

Are there any restrictions on the amount of finance I can borrow?

For all G register, the minimum amount we finance is £100,000. For N register, the minimum amount is £250,000.

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