Financing for mooring

[stewart]

Are there any finance companies who would provide a loan/mortgage to purchase a Spanish berth? Bank of Scotland will add it onto a marine mortgage but only if there's enough equity in the boat.

 

[tcm]

I'd guess not.

You may easily find that some of the payment is requested in cash, the rest to some dodgy account in Monaco, the cayman islands and so on. This is cos a previous owner (or all of them) is liable to tax on the capital gain so far.

It's also seen as a good thing if the "price" on paper paid for berths is low, cos when the time comes to renew, it's likely that price (and not the cash) that wd be taken into account.

Don't be put off about this cash thingy - it doesn't mean that the whole thing is dodgy and there are marinas where every single sale involves cash - otherwise some are cash, some not.
Finally, berths are only 30 years, made of water, niot a real "lease" in the UK sense so bit crap for a bank.

Much the best to borrow against a UK house. Or of course, mug anyone in the marina carrtying a plastic bag - it's probly full of loot.

Finally finally....DO NOT MENTION the marina or berth if you find one for sale. Act v quickly, cos others are ready, and this may even include boat selling companies too.

More info from real expert at Triangle berth brokers, chris gill 01256 389 723 excellent chap who has lots of contacts and ONLY sells berths.

 

[Guest]

Lost paperwork.

Dont even mention the Bank of Scotland, I thought about putting a post on the board about them but they may have called it slander, but now this is an opening to it, well I have just sold my Princess 388 and taken a Birchwood in part ex, this boat was financed by them, when it was released to me, I requested the paperwork as the new owner needs to finance it himself through Barclays, after 2 weeks of phonecalls and no returned paperwork I phoned and asked to speak to the head man, he phoned to tell me that they had lost all the paperwork and they would issue a legal document to prove title, what a load of crap!, how can they loose legal docs like this?, easy they said we do it all the time...., enough said and put the phone down.

paul js.