At Shoreline Asset Finance we understand that not everybody is the same, and not everybody's needs when it comes to financing a major purchase are the same. That's why we remain flexible in our approach and will discuss your needs with you before we begin to arrange your finance.
When arranging finance facilities for narrowboats or barges most lenders would be happy with an in-water survey. However, usually for vessels 15 to 20 years old the marine insurance provider will only insure the boat with an out-of-water survey. Please discuss this with your intended insurer before any survey.
Certain lenders will consider staged payment requests, but these usually have a limited amount restriction and a maximum number of payments within the stage payment contract total.
Mortgages can be arranged on sailaway boats, however, the vessel would need to be in an advanced stage of build to afford the lender the necessary security. It must look complete with only the internal bulkheads, fixtures and fittings to be installed.
Marine finance facilities can be arranged whether your buying for leisure, residential or commercial use, but if you are intending to live aboard your boat please make sure you have arranged at least 12 months permanent moorings as proof of this will be required to secure a Marine Mortgage.