Purchasing a narrow
boat is a large investment and depending on your circumstances and budget
financing this purchase can be under taken in a variety of different ways. In this
article we are going to look at a few ways you can finance a narrow boat
If you are in the
very fortunate position of having the money in the bank then you will be able
to negotiate with the seller by doing a cash deal. This cash deal will be
undertaken with either a private seller or a brokerage company, by having the
funds at hand you will be soon find yourself on the waterways. Having your
funds already in place you are in a strong position to get a quick sale and
perhaps negotiate a reduced price depending on the seller.
As a guide price if
you have around £20,000 in the bank you will be able to buy a boat in a
reasonable good condition which shouldn't require any major works. As with all
the boats we sell we always recommend that you have a survey carried out before
buying. Find out more about surveys and surveyors here.
Use our search tool
to view boats meeting your requirements and budget
Borrowing from family
A family member maybe
prepared to loan or gift you the money (usually mum and dad) as this can also
be seen as an investment for the whole family. We have worked with many people
who's parents have offered to finance a boat purchase to get their kids on the
property ladder,providing them with their own independence and accommodation.
It also becomes a financial asset for the parents.
Before taking out a
loan Make sure you are able to make the repayments, don't over stretch
yourself. There are going to be ongoing costs and also unforeseen problems that
will crop up so make sure you will have enough money to cover all these
Example of a high
street loan borrowing £30,000 over 5 years
calculated on 26th August 2016
There are some
professional marine mortgages that specialise in marine mortgages please see
below some options;
Telephone: 0800 066 28820800 066 2882 FREE
From a mobile: 0330 088 2002
Technology House, Station Road, Alton,
Hampshire, GU34 2PZ
Halfhide. Arkle Finance
01933 30478901933 304789
07792 76197907792 761979
visit their website for more information: www.arklefinance.co.uk
Zebra Finance Ltd
Phone: 01332 680 40001332 680 400
Wyvern Business Park
Come and talk to us!
We have helped and
advised many people realise their dream and we are here to help if buying a
narrow boat is on your to do list.
We always ask for a
£1000 deposit to secure a boat and this is for all boats whatever the asking
price. This then places the boat under offer which means nobody else can view
it and nobody else can make an offer on it.
If you decide to
proceed with the sale without having a survey then you can own the boat the
same day as long as we have cleared funds in our bank. But if you decide to
have a survey which we do recommend then it depends on the dock/surveyor
availability as to how soon you can own the boat. Normally it takes 5 days
after the survey to received the report and then there might be some
negotiations to take place. Please see our buyers agreement/t&c’s
Once negotiations are
completed or once you the buyer has the report and is happy
then the full outstanding balance is due and once the funds are clear you will
be able to cruise away!
We offer fantastic
moorings at the marina for more information follow this link
We are open 9.00am to 6.00pm, Monday to Sunday (Summer)
9.00am to 5.00pm, Monday to Sunday (Winter)
and no appointment is necessary.