builders certificate

[Guest]

I am in the process of selling my yacht but the buyers marine mortgage company insist on seeing the ORIGINAL builders certificate which i do not have. The word is that the builder of the boat is unable to re-issue an original, are there any alternatives? Please help. the boat is only on ss part 3

<hr width=100% size=1>

 

[byron]

<font color=blue>I've not heard of this before. I take it the new owner is trying to register the boat? If the craft already holds an SSR or better yet Part 1 registry this should satisfy their needs. I believe but I am not sure that a Marine Mortgage requires a vessel to be registered whereas a loan or H.P. is secured in much the same way as buying any item on credit.
Sorry if this isn't more helpful.

<hr width=100% size=1>http://www.alexander-advertising.co.uk

 

[EME]

I've run into a similar problem with my purchase which requires a 1999 boat to be Uk-registered by the mortgage company(currently German-registered). I am currently getting the broker to get the builder to re-issue a builder's certificate ( they will do it) however an alternative option that barclays put forwrd is to re-register in CI , where the certificate is not required BUT the cost of doing this is £2000 ( yes, that is what I wrote !!).

P.S. You need the certificate up to a 5-yr old boat but only title docs for 5 yrs if older than that ...(e-mail MCA at Cardiff if I've confused you !)

<hr width=100% size=1><font color=blue>I am WHAT I say I am</font color=blue>

 

[pandroid]

The mortgage company want to be sure that there are no outstanding claims on the boat, which Part 3 is useless for. They'll get you to register it on Part 1 to prove their claim.

Basically, they need something that proves you, and you alone, own the boat. This means either Part 1 or a paper trail back to the builder (invoices, certificates etc). Sometimes, a trail of invoices, or letters from previous owners, will do. I believe the 'guide to registration' (cant remember exact title, but available from the registry) gives some examples of suitable material.



<hr width=100% size=1>