Ferry & Passenger Vessel Finance

Wesleyan Bank Ferry and Passenger Vessel Finance Rates October 2026

Asset Finance from 7–11.5% per annum. Up to 75% LTV, terms to 7 years. Independent broker comparison across the whole UK lender market.

Rates updated October 2026

Wesleyan Bank Ferry Finance - Rate Table (October 2026)

Finance Type	Indicative Rate	Min Loan	Max Loan	Max LTV	Max Term	Key Feature
Asset Finance	7–11.5% p.a.	£75,000	£1,000,000	75%	7 years	Fast decisions; lower entry point; suits smaller and mid-tier passenger operators

Rates indicative for October 2026. Subject to status, MCA survey and coding. Contact us for a tailored quotation. Compare all 9 lenders →

About Wesleyan Bank and Ferry/Passenger Vessel Finance

Wesleyan Bank is a specialist UK bank with an asset finance capability that extends to commercial marine vessels including passenger ferries, tourist boats, and water taxis. While Wesleyan is perhaps best known for lending to professionals in healthcare and law, their commercial asset finance team has developed a quiet but genuine capability in the specialist marine sector - a capability that is not widely marketed but is accessible through specialist marine finance brokers.

Wesleyan's indicative rates for passenger-vessel finance run from 7% to 11.5% per annum, with a minimum loan of £75,000 and a ceiling of £1 million. This positions them at the accessible end of the market: they can serve operators buying smaller river ferries, water taxis, and tourist excursion boats who would be too small for NatWest, HSBC, or Lombard, but who want the security of a regulated bank rather than a non-bank lender.

The 7-year maximum term and 75% LTV reflect Wesleyan's slightly more conservative risk approach compared to some competitors, but their speed of decision - often quicker than larger banks - and willingness to consider first-time commercial operators with strong transferable experience make them a genuinely useful option for the mid-tier passenger-vessel market.

Strengths

Minimum loan of £75,000 - one of the lowest entry points among regulated bank lenders for passenger vessels.
Generally faster credit decisions than clearing banks - often 5–8 working days for a complete, well-packaged application.
Willing to consider first-time commercial vessel buyers with strong relevant maritime experience.
Stable, deposit-funded bank with FCA/PRA regulation providing long-term commitment to lending.

Limitations

Maximum loan of £1 million limits Wesleyan to smaller and mid-tier passenger vessels; larger acquisitions need to go elsewhere.
7-year term is the shortest of the banks reviewed here, leading to higher monthly repayments.
LTV capped at 75%; borrowers need a 25% deposit or equity stake.

Is Wesleyan Right for My Vessel?

Wesleyan is ideal for independent passenger-vessel operators, tourism businesses, and ferry operators buying vessels in the £75,000 to £1 million range who value fast decisions and bank security. They are particularly worth approaching for first-time commercial operators who have relevant maritime background but limited company trading history.

As a whole-of-market broker, Doulton Bridging Finance compares Wesleyan Bank against all other lenders before making a recommendation. See all lenders →

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FAQs

Frequently asked questions

Is Wesleyan Bank a good choice for a first-time passenger vessel buyer?

Wesleyan is one of the more approachable bank lenders for first-time commercial vessel operators, particularly where the buyer has demonstrable maritime experience - for example, a skipper who has been employed in the passenger vessel sector and is now buying their own craft. A detailed business plan, evidence of forward bookings or contracts, and a personal guarantee will typically be required.

What is the maximum vessel age Wesleyan will finance?

Wesleyan generally prefers vessels under 15 years old, though this is not a hard rule. Older vessels in excellent survey condition, with recent refits and valid MCA coding, may be considered on their merits. The surveyor's assessment of remaining economic life is an important factor - Wesleyan will not lend on a 7-year term against a vessel whose working life is assessed at 5 years.

Can Wesleyan finance a tourist boat with no fixed route income?

Yes, Wesleyan's commercial team is comfortable with tourist and excursion vessels whose income comes from varied private charter, public excursions, and seasonal bookings rather than a fixed route. The key is demonstrating sufficient historic income and a credible forward revenue plan. Three years of accounts or management accounts, along with forward bookings, will be reviewed.

How does Wesleyan Bank handle a vessel purchase where the vendor is a private individual?

Private vendor sales are straightforward for Wesleyan provided the vessel has a clear title (verified through UK Ship Register or CRT check), a current independent survey from an approved surveyor, and valid MCA coding. A bill of sale in proper form will be required on completion. Wesleyan's solicitors will check the title before funds are released.

Does Wesleyan require hull and machinery insurance to be arranged before drawdown?

Yes. As with all maritime lenders, Wesleyan requires evidence of hull and machinery insurance for the full vessel value from a marine insurer approved under their lending conditions. The policy must note Wesleyan Bank as loss payee or mortgagee. Insurance must be in place and confirmed before funds are released.

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Asset finance for business purposes is not regulated by the FCA. Rates shown are indicative as at October 2026 and depend on credit profile, term, vessel and deposit. We act as a credit broker, not a lender. Your vessel may be repossessed if you do not keep up repayments.