Boat Finance

When buying your new boat, finding the best way to finance the purchase is an important part of the decision making process.

Barclays Marine Finance, a division of the Barclays Bank Group, has teamed up with Boatmatch.com to offer a flexible and competitive solution for your power or boat purchase.

Barclays Marine Finance has many years' experience in marine finance and a reputation that has grown through providing a confidential and an efficient service.

We endeavour to tailor your borrowing requirements to suit your circumstances, our guidance and advice is free of charge, and we welcome your no obligation enquiry.

Marine mortgages

Borrow from £25,001 up to 80% of the value of your boat, with the mortgage being secured against your boat.

Key benefits

• Fixed monthly repayments
• No fees for early repayment
• Security/registration fees may be payable and can be added to your mortgage
• Set up fees apply
• Typical example - even spread mortgage of £100,000 repaid over 120 months, monthly payment £1,187.02, total to repay £142,442.00. 7.8% APR typical variable
  Interest is charged at a margin over Finance House Base Rate (FHBR) which is variable
  This example is based on FHBR of 5.5%*. If base rate increases or decreases your term simply extends or reduces. A lending fee will be payable, the amount of this will depend on the complexity of the application.

More information

• Fixed monthly repayments remain constant regardless of any change in interest rates. Should they rise or fall we simply vary the length of the mortgage term so you always know how much your repayments are
• Interest is charged on a daily basis ensuring you only pay interest on the balance outstanding
• Lump sums can be paid at any time without penalty so you can reduce the term or monthly repayment on your mortgage
• A survey and valuation is compulsory on Marine mortgages unless the vessel is under 1 year old
• We require the boat's insurers to note our interest
• Your home remains unencumbered as we use the boat being purchased as security

Application conditions

Marine mortgages are only available to persons aged 18 or over. Subject to status. Security on the vessel will be required. Full written details are available on request from Barclays Marine Finance, Offices 3&4, 1st Floor, Chandlery Building, Hamble Point Marina, School Lane, Hamble, Southampton, SO31 4NB

* Rates as at 1st September 2004 and will vary depending on the Bank of England base rates