Ultimate Finance - Indicative Rate Table (October 2026)
| Finance Type | Indicative Rate | Min Loan | Max Loan | Max LTV | Max Term | Key Feature |
|---|---|---|---|---|---|---|
| Hire Purchase | 8–11% | £10,000 | £500,000 | 70% | 5 yr | Fast decisions; accessible to shorter-history businesses |
| Finance Lease | 9–12% | £10,000 | £300,000 | 70% | 5 yr | Residual value option available on newer vessels |
| Asset Refinance | 10–14% | £10,000 | £250,000 | 65% | 4 yr | Release equity from existing vessel; quick turnaround |
Rates are indicative for October 2026 and subject to underwriting, vessel survey and credit assessment. Contact us for a personalised illustration.
About Ultimate Finance Fishing Vessel Finance
Ultimate Finance is a Bristol-based asset lender operating in the accessible end of the commercial marine market. Their proposition is built around speed and accessibility - for smaller fishing operators who need a quick decision and cannot afford to wait weeks for a mainstream bank, Ultimate Finance offers a credible alternative with decisions often available within 24 hours.
The lender covers HP, finance lease and asset refinance products in the £10k–£500k range. Their credit criteria are less stringent than the mainstream market: they will consider businesses with 12–18 months' trading history, moderate adverse credit, and older vessels that the banks will not touch. The cost of this flexibility is a higher rate - Ultimate's products typically price 2–4% above equivalent Close Brothers or Hampshire Trust facilities.
In October 2026, we use Ultimate Finance primarily for two scenarios: small inshore operator purchases under £100k where mainstream lenders have minimum tickets that exclude the transaction, and as a bridge funder while a client builds sufficient trading history to qualify for a lower-rate facility. Their asset refinance product is also useful for operators who need to release equity from a vessel they own outright.
Strengths
- £10,000 minimum - suitable for creel boats, inflatable workboats and equipment purchases that other lenders ignore
- 24-hour decision capability for standard cases - essential for time-sensitive purchases
- Will consider 12 months' trading history where most lenders require 2+ years
- Asset refinance product allows equity release from unencumbered vessels - useful for working capital or refit funding
Limitations / Things to Know
- Higher rates than mid-market alternatives - 8–14% vs 6.5–9% at Close Brothers or Hampshire Trust
- 5-year maximum term significantly increases monthly payments on mid-range transactions
- 70% maximum LTV means a 30% deposit is required - the highest deposit requirement in the market at this ticket size
Is Ultimate Finance Right for My Fishing Vessel?
Ultimate Finance is best positioned for small-ticket, time-sensitive purchases where the borrower does not qualify for mainstream products. If you need a fast decision on a sub-£100k vessel purchase, or you are refinancing an existing asset for working capital, Ultimate Finance is worth considering. For any transaction above £100k where you have 2+ years' trading history, we would prioritise Close Brothers, Shawbrook or Arkle ahead of Ultimate on cost grounds.
Compare All Lenders
See how Ultimate 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.