Best Ferry and Passenger Vessel Finance Rates UK

All 9 Lenders - Rate Comparison (October 2026)

Lender	Finance Type	Indicative Rate	Min Loan	Max Loan	Max LTV	Max Term
Close Brothers Asset Finance	HP / Hire Purchase	7–11%	£50,000	£2,000,000	80%	10 years
Lombard	Finance Lease	6–10.5%	£500,000	No published cap	80%	12 years
Shawbrook Business Credit	Secured Business Loan	7.5–13%	£100,000	£1,000,000	75%	7 years
Hampshire Trust Bank	Secured Term Loan	7.5–12.5%	£150,000	£3,000,000	80%	10 years
NatWest Business	Commercial Loan	5.5–9.5%	£500,000	No published cap	80%	12 years
HSBC UK Business	Commercial Loan	5.5–9%	£500,000	No published cap	80%	12 years
Paragon Bank	Secured Business Loan	7–12%	£100,000	£2,000,000	75%	8 years
Wesleyan Bank	Asset Finance	7–11.5%	£75,000	£1,000,000	75%	7 years
Clydesdale Bank / Virgin Money	Commercial Loan	6.5–10%	£300,000	No published cap	80%	10 years

Cheapest Overall - Best Headline Rates

1. HSBC UK Business - from 5.5% p.a. Jointly the cheapest available rate for ferry finance. Available for loans from £500,000 to established operators with strong financials. 12-year terms and 80% LTV. Best suited to large, established operators who already bank commercially with HSBC or are willing to move their banking relationship.

2. NatWest Business - from 5.5% p.a. Equal lowest rate with HSBC. NatWest's Lombard subsidiary offers finance leases from 6%, adding a VAT-reclaim option. 12-year terms and 80% LTV make NatWest one of the best-value options for large ferry acquisitions. The trade-off is a thorough, slow credit process.

3. Lombard - from 6% p.a. The cheapest finance-lease product in the market, and particularly attractive for VAT-registered operators buying vessels valued at £500,000+. Part of NatWest Group, offering the same balance-sheet depth. 12-year terms are market-leading.

4. Clydesdale Bank - from 6.5% p.a. Competitive clearing-bank rates especially for Scottish operators. 10-year terms and 80% LTV. Strong relationships with island and coastal ferry services in Scotland.

Best for River Ferry Operators

Close Brothers is typically the strongest choice for river and estuary ferry operators, particularly for loans between £50,000 and £2 million. Their HP product delivers fixed costs, they understand seasonal cash flow, and their marine underwriters have genuine knowledge of river-crossing operations. For very small operators (under £100,000), Close Brothers is one of very few regulated lender options.

Hampshire Trust Bank is a strong alternative for river-ferry operators borrowing between £150,000 and £3 million who want 80% LTV and 10-year terms from a specialist bank with flexible, relationship-led underwriting. More: River Ferry Finance UK →

Best for Larger RoPax Ferries (£1m+)

NatWest and HSBC are the primary options for RoPax acquisitions above £2 million, with the lowest rates, longest terms (12 years), and highest LTVs (80%). For transactions between £1 million and £3 million requiring specialist bank rather than clearing-bank underwriting, Hampshire Trust Bank (up to £3 million) is the most capable specialist option.

For finance-lease structures on large RoPax vessels, Lombard (NatWest Group) offers the most competitive terms with the added benefit of VAT reclaim for VAT-registered operators. More: RoPax Ferry Finance UK →

Best for Tourist and Excursion Boat Operators

Tourist and excursion boat operators typically need between £75,000 and £750,000 and benefit from flexible underwriting that accommodates seasonal revenue. Wesleyan Bank (from £75,000), Paragon Bank (from £100,000), and Shawbrook (from £100,000) are the most accessible lenders for this segment. Close Brothers is a strong HP option for tourist operators up to £2 million.

More: Tourist and Excursion Boat Finance UK →

Lender rate pages

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

Frequently asked questions

Which lender offers the lowest rate for ferry and passenger vessel finance in October 2026?

HSBC UK Business and NatWest Business both offer indicative rates from 5.5% per annum - the lowest in the market. These rates are available to established operators with strong covenants, long trading histories, and vessels valued at £500,000 or above. Clydesdale Bank follows at 6.5% for Scottish and regional operators, and Lombard from 6% for finance-lease structures.

Which lender is best for a small river ferry operator borrowing under £200,000?

For loans under £200,000, the realistic options are Close Brothers (from £50,000), Wesleyan (from £75,000), Paragon (from £100,000), and Shawbrook (from £100,000). Close Brothers is often the first choice for small river-ferry HP, while Wesleyan is competitive for first-time buyers. NatWest, HSBC, Lombard, and Clydesdale all have minimum loan sizes of £300,000–£500,000 and will not serve this segment.

Which lender is best for a larger RoPax ferry acquisition?

For larger RoPax transactions above £1 million, NatWest and HSBC offer the most competitive rates and terms (5.5–9.5%, up to 12 years, 80% LTV). Lombard is an excellent alternative for operators who benefit from a finance-lease structure (VAT reclaim). Hampshire Trust Bank (up to £3 million) is the best specialist-bank option for transactions between £1 million and £3 million that need a more flexible underwriting approach than a clearing bank.

Is it better to use HP or a finance lease for a tourist excursion boat?

For most tourist and excursion boat operators, HP is simpler and delivers ownership throughout. Finance leases offer VAT reclaim benefits for VAT-registered operators - if your vessel costs £500,000 and you can reclaim £100,000 of VAT through a lease structure versus paying it upfront in HP, the cashflow saving is material. A specialist broker can model both structures on your specific figures to identify which is cheaper on a total cost of finance basis.

Can I get 80% LTV on a passenger vessel?

Yes. Close Brothers, Lombard, Hampshire Trust, NatWest, HSBC, and Clydesdale all offer up to 80% LTV on MCA-coded passenger vessels in good survey condition. Shawbrook, Paragon, and Wesleyan cap at 75%. To achieve 80% LTV you will typically need a vessel under 15 years old with a valid MCA certificate, three years of accounts, and a deposit or equity of 20%.

Best Ferry and Passenger Vessel Finance Rates UK October 2026