Best Commercial Fishing Vessel Finance Rates UK

All 14 Lenders Compared - October 2026

Rates shown are indicative for October 2026. Your actual rate depends on vessel age, condition, MCA coding, trading history and deposit. Use this table to identify the most likely lenders for your situation, then speak to us for a personalised comparison.

Lender	Finance Type	Rate Range	Min Ticket	Max Ticket	Max LTV	Max Term
HSBC UK	Commercial Loan	5.5–9%	£500k	No cap	80%	12 yr
NatWest	Commercial Loan	5.5–9.5%	£500k	No cap	80%	12 yr
Lombard	Finance Lease/Loan	5.8–10.5%	£500k	No cap	80%	12 yr
Clydesdale/Virgin Money	Commercial Loan	6.5–10%	£250k	No cap	80%	10 yr
Close Brothers	HP/Lease	6.5–11%	£25k	£2m	80%	10 yr
Wesleyan Bank	Asset Finance	7–11.5%	£50k	£1m	75%	7 yr
Paragon Bank	Secured Loan	7–12%	£50k	£1.5m	75%	8 yr
Arkle Finance	HP/Lease	7–12%	£25k	£750k	75%	7 yr
Hampshire Trust	Secured Lending	7.5–12.5%	£100k	£2m	80%	10 yr
Shawbrook	Secured/HP	7.5–13%	£50k	£1m	75%	7 yr
Promarine Finance	HP/Lease	8–14%	£25k	£1m	80%	7 yr
Nucleus	Revenue/Asset	8–15%	£10k	£500k	70%	5 yr
Ultimate Finance	HP/Lease	8–14%	£10k	£500k	70%	5 yr
Marine Finance Direct	Specialist HP	8–14%	£25k	£750k	70%	7 yr

Which Lender is Cheapest?

HSBC UK and NatWest offer the lowest indicative rates - from 5.5% - but both require a minimum transaction of £500,000 and established businesses with strong accounts. Lombard is comparable at 5.8% and also requires £500k+. For most fishing vessel operators, the realistic cheapest accessible option is Close Brothers at 6.5% (minimum £25k) or Clydesdale/Virgin Money at 6.5% (minimum £250k). Wesleyan Bank and Paragon start at 7%, making them the next most competitive for well-qualified mid-market borrowers.

Best for Small Tickets (Under £100k)

For transactions below £100,000, the choice narrows considerably. Clearing banks and Lombard have minimums of £250k–£500k. In the sub-£100k range, the most competitive accessible lenders are:

Close Brothers - from £25k, from 6.5%, 80% LTV, 10 years. Best all-round for small tickets with good credit.
Arkle Finance - from £25k, from 7%, 75% LTV, 7 years. Personal service, marine expertise.
Wesleyan Bank - from £50k, from 7%, 75% LTV, 7 years. Mutual bank, consistent appetite.
Nucleus / Ultimate Finance - from £10k, from 8%. Higher rates but accessible for shorter trading histories or adverse credit.

Best for Large Vessels (£500k+)

For large vessel purchases of £500,000 or more, the clearing banks become genuinely competitive and the rate differential is significant. Our recommendation for large-ticket transactions:

HSBC UK - from 5.5%, 12 years, 80% LTV. Best rates for new builds and post-2015 vessels.
NatWest - from 5.5%, 12 years, 80% LTV. Strong for established businesses with NatWest relationships.
Lombard - from 5.8%, 12 years, 80% LTV. Best for new builds with staged drawdown.
Clydesdale/Virgin Money - from 6.5%, 10 years, 80% LTV. Excellent for Scottish operators; accessible from £250k.
Hampshire Trust Bank - from 7.5%, 10 years, 80% LTV. Best non-bank option for large tickets.

Best for Older Vessels

Older fishing vessels (pre-2005) present challenges for most lenders. The most accommodating are:

Close Brothers - will consider vessels up to 20 years old on a case-by-case basis
Marine Finance Direct - specialist marine expertise; older hulls assessed individually
Promarine Finance - case-by-case approach; higher LTV (80%) even on used vessels
Nucleus / Ultimate Finance - most flexible on vessel age; higher rates compensate

Best for First-Time Commercial Operators

Most lenders require 2+ years of trading history. For new or recently established fishing businesses:

Nucleus Commercial Finance - will consider 6–12 months' trading; revenue-based finance suits seasonal income
Ultimate Finance - 12 months' trading considered; fast decisions; case-by-case on adverse credit
Marine Finance Direct - relevant experience can substitute partially for trading history

First-time operators should expect to provide a higher deposit (30–40%), a business plan, and evidence of relevant fishing experience (sea service records, skipper certificates).

Lender rate pages

Each lender's full criteria, rates and our verdict for this vessel type, October 2026.

Frequently asked questions

Which UK lender offers the cheapest commercial fishing vessel finance?

HSBC UK and NatWest consistently offer the lowest rates - from 5.5% for qualifying transactions. However, both have a £500,000 minimum and require strong trading history. For tickets below £500k, Close Brothers and Lombard (for £500k+) offer the next most competitive rates at 5.8–8.5%.

What is the cheapest rate available for a fishing vessel under £100k?

For sub-£100k transactions, the clearing banks are not available (minimums of £250k–£500k). The most competitive lenders for small tickets are Close Brothers (from £25k, from 6.5%), Arkle Finance (from £25k, from 7%), and Wesleyan Bank (from £50k, from 7%). For very small tickets under £25k, Nucleus and Ultimate Finance cover down to £10k but at higher rates.

Which lender is best for older fishing vessels?

Close Brothers, Marine Finance Direct and Promarine Finance have the strongest appetite for older vessels. Close Brothers will consider vessels up to 20 years old; Marine Finance Direct considers older and non-standard hulls; Promarine takes a case-by-case approach. The clearing banks and Lombard strongly prefer post-2010 vessels.

Which lenders offer 80% LTV for commercial fishing vessel finance?

The following lenders will advance up to 80% LTV on qualifying transactions: Close Brothers, Lombard, NatWest, HSBC UK, Clydesdale/Virgin Money, Hampshire Trust Bank, and Promarine Finance. Of these, the clearing banks are typically limited to transactions of £250k–£500k+. Hampshire Trust and Close Brothers offer 80% LTV across a wider ticket range.

Is it possible to get commercial fishing vessel finance as a first-time operator?

Most mainstream lenders require 2+ years of trading history. First-time commercial operators face more limited options: Marine Finance Direct, Nucleus and Ultimate Finance will consider 12 months' trading or shorter with appropriate compensating factors (relevant experience, strong deposit, fishing licence). Higher deposits - 30–40% - are typically required for newer businesses.

Best Commercial Fishing Vessel Finance Rates October 2026