Absolutely. We’re able to make payments for vessels in sterling, euros and US dollars. We can finance boats located in many countries, providing we can register them on a UK or UK territory register.
Answering the most common questions about marine finance
Can I buy my boat from a private individual or do I need to buy it through a broker?
Either. You can buy your boat from a private individual or a broker – and we can help you in both cases.
Do I need a survey and valuation?
New boats don't need to be surveyed. For used boats, you'll need a current out-of-water full condition survey and valuation, commissioned by you and undertaken by a marine surveyor. Always make sure your surveyor is of good standing and has professional indemnity insurance.
Do I need to register my boat?
Normally, we only require the vessel to be fully British registered under Part 1 of the Merchant Shipping Act if it's to be kept outside UK waters; or if the level of advance is more than £100,000. For customers living in Scotland, we require Part 1 British Registration on all advances.
Will I need insurance for my boat?
Your boat must be comprehensively insured with a UK insurer with our interest noted on the policy.