Hank Zarihs Associates are expert brokers in the development and investment funding markets. Contact us to find out the latest rates that lenders are offering for marine assets. We can also offer refinancing deals for existing marine assets. Applicants can choose from variable or fixed interest rates, balanced payment plans and the option for balloon payments where required at the end of the term (for example, to lower monthly repayments.) Boat loans can also be secured with other vessels or assets in a chattel mortgage arrangement. Marine mortgage rates vary widely according to the lender, the applicant’s situation and the marine asset in question. Barge finance, Narrowboard finance and Widebeam finance.We can provide funding for other boats and marine assets too, including: Marine finance is designed to meet the cost of these purchases, with loans that begin from around £50,000 and which go up to £20 million or more, depending on the vessel being purchased. Other business clients are looking to get a commercial proposition of the ground with new ferries, and others are looking to upgrade their fleet with new service vessels, fishing boats or specialist harbour vessels. Some clients are looking to enjoy their retirement or leisure time with a superyacht, day boat or speedboat purchase. Want to finance your next marine purchase? Details on these processes and any applicable fees are provided when you apply for your marine loan and we provide ourselves on a completely transparent, helpful and expert service. When companies and LLPs apply for marine finance, we also register the mortgage on their behalf, but with Companies House. We can also support with title paperwork checks and MCA registration requirements, ensuring that no existing mortgages are secured against the vessel (for example, from a previous owner) before our clients seek to obtain new finance. Hank Zarihs can assist with this process to help safeguard your ownership interests and to maximise your protection against any fraud. The mortgage for that vessel is then registered with the appropriate marine authority (such as the UK Ship Register.) Loans for larger marine vessels is usually structured in the form of a marine mortgage which is amortised over the life of the vessel itself. However, focused lenders offer bespoke marine funding solutions to clients, usually via a broker such as Hank Zarihs Associates.įunding for smaller boats may be sufficient in the form of a simple loan, repayable each month. The specialist nature of this type of finance means that marine funding tends not to be available on the high street. Buy to let mortgages for non UK residentsĪs its name suggests, marine finance exists to fund the purchase of a wide range of commercial, leisure and recreational and pleasure vessels for coastal, inland and ocean use.
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