• Finance up to 60% subject to status, if the yacht is under a charter management contract!
• Projected charter revenue will be taken into consideration!
• Finance offered on new and previously owned yachts!
• The yacht can be financed between two or more individuals!
• Corporate finance considered.
In the the past few years some of the world leading finance houses have shut their doors after the worlds big financial crises. For a while it was almost impossible to obtain marine finance, unless you left your family as hostage! Mafia finance could arrange finance quite easily, but their instalment plan was said to be simple, they would say “our instalment plan is simple, miss a payment and we beak your legs”!
A few companies started offering finance with heavy security attached, including the boat as security.
Things thankfully have now improved and providing you do have a home base in the country you are domiciled it is a fairly easy process, particularly if the yacht is managed within a charter fleet within a yacht charter contract even on the larger yachts managed by companies such as Fraser Yachts or Burgess Yachts.
The finance companies will also take the projected charter income in consideration, this makes financial sense for both individuals and corporate bodies investing in yacht ownership linked to a finance package.
Your privacy is maintained by working direct with the finance company and not having to divulge sensitive and personal information via the yacht broker.
They will consider finance of both new and previously owned vessels and sometimes will offer up to 60 - 80% of the cost subject to status and occasionally will ask for extra security on property.
Unfortunately still none of the finance companies offer to help with stage payments on a new build, but the builders can be flexible working with a larger up front payment.
Spread the cost over a hundred years and you will not feel a thing! (not quite, but the term of the loan is flexible spread between three, five and ten years) on a reducing balance.
Close Brothers Aviation and Marine - UK based clients
CGI Finance - European clients