Finance

We work with Lombard Marine Finance to offer the best service and rates available in the marine market from everything from a £25,000 boat right up to specialist superyacht finance involving flagging companies and charter schemes. Some of the main options are listed below:

Balanced payment plan
Monthly repayments remain fixed throughout the agreement. The estimated term of the agreement will vary according to fluctuations in the interest rate. As well as sterling, this can be offered in both euros and US dollars. This can be particularly favourable if you have an income in these currencies, as there is no exchange rate risk.

Low start and interest only mortgages
With a low start mortgage, monthly repayments are lower in the first three years. They are then increased slightly each year to ensure full repayment over the agreed term. Alternatively, an interest-only period can be considered. Your payments will cover the cost of interest only for a certain period - for example 12 months - with the facility then reverting to capital and interest repayments for the remaining term.

Personalised packages
Depending on the level of borrowing, we can consider: a structured repayment mortgage tailored to individual cash flow requirements, a balloon payment mortgage, or a 15-year mortgage keeping monthly repayments lower over an extended term.

Finance FAQ’s
Q - Can more than one person buy the boat?
A - We can assist with a joint purchase. All parties sharing ownership of the vessel must be included jointly on the mortgage.

Q - Can I charter the vessel?
A - Yes, you can charter your boat under the terms of our mortgage, as long as we are made aware of this.

Q - What if I want to change my boat before the loan is repaid?
A - As long as your circumstances support our financial advance, additional funds can be made available quickly and easily. We will help you with the process of transferring the mortgage from one vessel to the other, and we will adjust your repayments accordingly. Naturally, if you don't require a new facility from us, you will need to repay the outstanding mortgage balance in full.

Q - How is interest calculated?
A - Interest is calculated on the balance outstanding at the end of each day, which means you immediately benefit when you make any capital repayments.

Marine finance can really work to give you the boat of your dreams in a way that fits your finances. For a competitive and fast quote contact Waterside Boat Sales today for your finance advice.