Close Brothers Asset Finance - Indicative Rate Table (October 2026)
| Finance Type | Indicative Rate | Min Loan | Max Loan | Max LTV | Max Term | Key Feature |
|---|---|---|---|---|---|---|
| Hire Purchase (new vessel) | 6.5–8.5% | £25,000 | £2,000,000 | 80% | 10 yr | Fixed rate, vessel title transfers on final payment |
| Finance Lease (new/used) | 7–9.5% | £25,000 | £2,000,000 | 80% | 10 yr | Operating lease structure available, no balloon required |
| Hire Purchase (used vessel) | 8–11% | £25,000 | £1,500,000 | 75% | 8 yr | Vessels up to 20 years old considered case by case |
Rates are indicative for October 2026 and subject to underwriting, vessel survey and credit assessment. Contact us for a personalised illustration.
About Close Brothers Asset Finance Fishing Vessel Finance
Close Brothers Asset Finance is one of the UK's most active commercial marine lenders, with a dedicated marine team that genuinely understands the operational realities of commercial fishing. Unlike generalist asset finance providers, Close Brothers staff have sector knowledge that makes them a reliable and responsive counterparty for fishing vessel transactions.
The lender operates across the full spectrum of HP and finance lease structures, covering new builds, second-hand vessels and fleet replacement. Their minimum ticket of £25,000 makes them accessible to smaller inshore operators as well as the larger offshore fleet owners who need multi-million-pound facilities. Maximum exposure per transaction of £2m is among the highest in the sector.
Rates for well-qualified borrowers with strong trading history and MCA-coded vessels start from 6.5% for new vessels on hire purchase - competitive with the clearing banks for mid-range tickets. As of October 2026, Close Brothers remains one of our most frequently placed commercial fishing lenders, with quick credit decisions and a pragmatic approach to older vessels.
Strengths
- Dedicated marine underwriting team with genuine sector understanding - faster, more informed decisions than generalist lenders
- Widest ticket range in the market: £25k minimum means smaller inshore operators are not excluded
- Will consider vessels up to 20 years old on a case-by-case basis - important for the UK fishing fleet where many vessels are 1980s or 1990s builds
- Both HP and finance lease available, giving flexibility on whether ownership transfers or operating lease treatment is preferred
Limitations / Things to Know
- Not the cheapest option for large tickets over £500k - clearing banks typically undercut on rate at that level
- Requires a current MCA certificate; vessels without valid coding are not considered
- Personal guarantees are typically required from directors/owners, even for limited company borrowers
Is Close Brothers Asset Finance Right for My Fishing Vessel?
Close Brothers is an excellent fit for mid-market fishing vessel purchases - particularly where the ticket is £25k–£750k, the vessel is MCA coded, and the operator has 2+ years of trading accounts. Their willingness to consider older vessels makes them valuable for the second-hand market. For very large transactions (£1m+), it is worth also comparing NatWest and Lombard on rate.
Compare All Lenders
See how Close Brothers Asset Finance stacks up against all 14 lenders in our best rates comparison page, or return to the hub for an overview of all fishing vessel finance options.