UK Boatlinks

Marine Mortgage Definition

"Marine mortgage" means a mortgage which is registered in accordance with the Merchant Shipping  Act 1993 and by virtue of which a boat (but not any share thereof) is made a security for a loan.

So a marine mortgage is secured on the boat that it has financed, in a similar way that a house is.

Marine Mortgage Estimator

Bank of Scotland also offer a calculator for marine mortgages, but they offer two types, the first calculates how much you can borrow based on how much you can afford to pay for your boat each month, and the second how much a specific amount will cost to borrow.

The Marine Mortgage calculators can be found here: Bank of Scotland Marine

Bank of scotland have been providing marine finance for over 30 years. Their main website for boat loans can be found at : bank of scotland boat loans

Marine Mortgage Calculator

Barclays Marine finance have a handy and quick calculator that enables you to work out the repayments on a marine mortgage that you may be considering to purchase your new boat.

You can simply select the amount of the boat loan and the number of years and it calculates the monthly repayments for you. See the calculator here: Barclays Marine Calculator

Barclays Marine Finance section also has some useful information about boat loans and an online application form. The main marine mortgage pages can be found here: Barclays Marine