Marine or Yacht Finance is an extremely convenient and flexible way to purchase a yacht. With interest rates remaining at historic low levels, the ability to borrow money secured against the yacht allows a buyer to free up capital for other investments or leave current investments intact.
Whilst the number of primary marine lenders in the market is much smaller than pre-recession times, the flexibility of the loan products has increased greatly. Marine lenders fully understand the finances of yacht owners and also how they like to buy, use and sell their yachts, and can tailor plans to suit.
Grabau International Yacht Brokerage & Conveyancing is delighted to work closely with three of the primary lenders in the UK marine finance market:
CGI Finance is a trademark of Société Générale used by CGL, a financial establishment founded in 1951 and a subsidiary of Société Générale. CGI Finance is one of Europe’s largest marine financiers lending to clients from the UK, France, Germany, Italy, Spain & Portugal.
Offering loan terms between 4 – 15 years* for loan amounts not exceeding 80%* of the purchase price of the new yacht. CGI are also able to provide finance for the acquisition of a used yacht. They are able to offer both fixed and variable rate mortgages.
*Subject to approval by CGL, Finance products subject to conditions and change at any time without notice.
Lombard has been supporting UK businesses and individuals by providing asset finance for over 150 years, as part of The Royal Bank of Scotland, a UK-centred bank, headquartered in Edinburgh, Scotland.
Lombard is able to finance many different types of new or used pleasure vessels from small day cruisers up to vessels 40m in length with a minimum advance is £25,000
From off-the-shelf solutions to tailored packages, Lombard can offer their clients a wide range of marine finance options including Variable-rate marine mortgages, balance payment plans and balanced payment plans with a balloon repayment.
*Credit is subject to underwriting and the APR applicable to an agreement you enter with Lombard will be based on their underwriting, the duration of the agreement and other features.
Security may be required in the form of a mortgage over the vessel. A personal guarantee and product fees may apply.
Established in 2010, Promarine Finance offers marine mortgage solutions* ranging from £3,000 to £70,000 and over periods of up to 10 years.
Providing a personal service which allows a more flexible approach with regards credit information and the vessels they finance, Promarine Finance can usually provide a lending decision within 30 minutes of receiving a completed application and paperwork can follow the same day. Promarine Finance aim to make buying a boat simple and to get their clients out on the water as soon as possible.
* Marine mortgages are secured against the vessel
For further information about marine finance, please click either of the banners above or alternatively email us or use the contact form below.
(Grabau International Ltd t/a Grabau International Yacht Brokerage & Conveyancing is authorised and regulated by the FCA to act as an approved introducer to these companies.)