What to do next
Marine Finance made easy
- Choose the class of boat and agree on the purchase price with the broker or vendor
- If the boat is used your offer should be subject to evidence of clear title (we can check this on your behalf). If a vessel is over 12 months old, a survey and valuation will be required (marine mortgages only).
- Email or call us on 0845 458 7555 with the boat details and we can start the finance process.
- We will help you identify a finance structure that meets with your specific requirements.
- Arrange for your survey and valuation to be carried out (we can provide you with the names of registered surveyors in your area) and supply us with a copy of the paperwork.
- Arrange your boat insurance to begin on the date of delivery. It is a condition of the loan advance that insurance with a reputable company is in place.
- On receipt of your mortgage / loan documents, review the paperwork, execute and return it.
- Funds will be released directly to you or to the vendor or broker, and you can take delivery of your boat within one month.
- Register the craft; we will then hold all the completed registration documentation
- Your mortgage / loan payments will begin approximately one month after delivery.
Bespoke Facilities
We recognise that every purchase is unique
Depending on the level of borrowing, we can consider a number of different structures tailored to individual cash flow requirements including low start mortgages, interest-only periods, balloon payment mortgages, or a longer 15 year mortgage term lowering monthly repayments improving spending power.
Balanced Payments Plan
Turning your dreams into reality
This facility provides the convenience of regular, fixed monthly repayment amounts, regardless of interest rate fluctuations. Instead the estimated term of the agreement will vary according to movements in the interest rate. As rates fall or rise over the period of the contract, so does the interest charge you pay. Finance can be arranged in Sterling, Dollars or Euros. This can be particularly favourable if you have an income in these currencies, as there is no exchange rate risk.
You pay an initial deposit, and repay the balance in fixed monthly payments over an agreed period. At the end of the term any variation of interest is reconciled and will be settled as either a credit to you, or a charge. Alternatively, the term can be shortened or extended. Other options available with Balanced Payments Plan include a deferred final ‘balloon’ payment, or settling your agreement early with a lump sum payment.
Marine Mortgage
We can help you realise your ambitions
There are no limits to the amounts we can lend, subject to the loan typically not exceeding 80% of the valuation or cost (whichever is lower) of the craft. Typically, the mortgage term is 10 years, but a number of alternative options are available.
Finance can be arranged in Sterling, Dollars, Euros and other major currencies. In most cases, we recommend an evenly spread mortgage. Interest rates (fixed or variable) and fees are dependent upon the size of the loan. We will need to determine boat specifications before this can be confirmed.
The boat is taken as our primary security by way of a Marine Mortgage. In addition, where the boat is owned by a company, a personal guarantee from the beneficial owner will also be required. Early repayments in full or periodic lump sums can be made at any time, without penalty. Cash injections however may not be redrawn. Any administrative charges and security registration fees can be added to the loan account, rather than paying them at the outset.
Benefits of Capitas
Finance as precisely designed as your boat
No matter what facility you want, Capitas can provide choice, quality and genuine personal service at every turn. We pride ourselves on having one of the most experienced marine finance teams in the UK. Our market knowledge and extensive financial solutions will help you get afloat quickly and efficiently. And when you take delivery of your boat it is not the end of our relationship. Our team of specialists will always be on hand to help you with any post-delivery issues that may arise.
Why you should choose Capitas as your marine financing partner?
Simply, it’s because we offer you:
- Asset class expertise: We can help you finance dinghies, powerboats, yachts, cruisers; understanding the dynamics of these vessels, their values and their working life
- Sound financial advice: Our corporate marine consultants combine marine asset expertise with knowledge of financial accounting, tax-related issues and regulations.
- Fit for purpose financing: We can fund for individuals, owner groups, syndicates and corporate purchasers in Sterling, US dollars and Euros providing rate competitiveness and consistency
- Tailored solutions: From concept and design of your boat, to delivery, Capitas will support you throughout the whole process; Our marine finance solutions cover every area of the marine finance market including but not exclusively acquisition, build, refurbishment and re-mortgage.
- A pleasing experience: We can also assist in a number of other areas such as survey, title and yacht registration - even fees such as moorings and marinas can be included
- Relationship management: We’re a proven partner, dedicated to your success across not just the lifecycle of your investment but the lifetime of our relationship
Marine
Capitas offers specialist marine finance solutions for the acquisition or re-financing of dinghies, powerboats, yachts and cruisers.
Our customers include private individuals, owner groups, syndicates and commercial organisations. We offer a tailored and flexible approach to all enquiries. From start to completion, members of our dedicated team of marine specialists will help advise and guide you through the funding process.
We can also assist in a number of other areas such as survey, title and yacht registration. You can trust us to help make your purchase as worry and hassle free as possible. Our funding service is personally delivered by experienced and knowledgeable marine finance specialists, with an outstanding understanding of the sector.