UK Boatlinks

HSBC Marine Mortgage

HSBC Marine Mortgages are available exclusively to existing HSBC customers and they can finance the boat in your business or personal name.

HSBC will normally lend up to 80% of the value of the boat over a typical loan period between 10 and 15 years. Flexible repayments – full or partial early repayments can be made without penalty. Fixed or variable interest rate options. Optional cover available to protect your finance against accident, illness or unemployment. Funding considered for both new and used craft.

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

Boat loans

Boat loans and marine mortgages are available from specialist companies in the UK. If you are considering a boat loan check out some of the links to marine finance companies in this section.

Boats do not devalue in the same way that cars do, they dont generally corrode and get worn away! They can be a good investment. With supply low and demand high, most popular boats hold their value and can be an excellent investment even if you have a loan to buy it in the first place.

Marine Mortgage

There are many ways of financing a boat. Those of us not lucky enough to purchase a boat for cash usually choose to finance their boat by means of credit.

There are two basic types of loan - secured and unsecured. Secured means should you default on the loan the financier will reposess the boat. Unsecured means that if you default they are after the money rather than any one fixed item like your boat.

Here are some of the options:

1 Credit card - Rates vary but a credit card such as Mastercard or Visa is an easy way to purchase your boat, you walk in the boat showroom pay with your credit card and you are ready to sail! This way the loan is 'unsecured'.

2 'Unsecured' Bank Loan - Perhaps slightly cheaper than the interest rates on a credit card, a regular bank personal loan can offer fixed or variable monthly payments over a number of years.

3 Marine Mortgage - Marine Mortgages are 'secured' on the boat but this type of finance will be cheaper than the other options monthly. Marine Mortgages have certain terms and conditions to do with the age and cost of the vessel, but the loan can be spread over a much longer period than a normal personal loan. Just like a house mortgage, but a marine mortgage will typically last up to 15 years.

In this section we will list some of the more common boat finance companies, most big lenders have a marine department if you search hard enough! Many offer Online payment calculators so you could work out the monthly payments of your dream boat right now!