Marine Finance?

[165042]

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I've always bought my boats outright however I'm looking to finance a boat for the first time. Does anyone have any recommendations and experiences? I'd probably be looking at paying the loan off within 2/3 years with lump sums so early settlement options beneficial. Looking at a 15 year old motorboat for around £35k if it's relevant.
 

alt

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The previous owner of my boat had it on finance, I bought it out-right from them directly (Lombard) - I wasn't a customer of theirs, but I found them excellent to deal with (answered the phone / sent out paper-work quickly etc.)
 

[165042]

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Thanks - I just checked with Sainsburys and you have to have a Nectar Card to get a loan of £35k. Not sure what relevance monitoring what groceries you buy has but hey ho - play the game!

APR goes up to 8% on that amount which is still much less than the initial marine finance quote I got of 17.8%.
 

IDAMAY

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Probably not worth the fuss of a Marine Mortgage for that amount although I had a small one from Lombard some years ago. Their service was excellent. Might be worth a look at peer to peer lending such as Zopa. All done on the web and over the phone and very quickly arranged provided you can show a good credit score.
 

bedouin

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Marine Finance is pretty expensive - if you own property it would be much cheaper to get/increase a mortgage.
 

Bbroomlea

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Thumbs up for Lombard. I found them very helpful, knowledgeable and made the whole process very easy. On that amount they wont want the boat Part 2 registered so should be straight forward.

Lombard are flexible with payments and no early settlement but they do charge a ridiculous set up fee
 
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