Marine Mortgage
A marine mortgage is long-term secured lending against a vessel - the marine equivalent of a residential mortgage. Available for narrowboats, sailing yachts, motor yachts, houseboats, and commercial vessels. Terms to 15 years from specialist marine mortgage lenders.
The right structure for every marine mortgage requirement
Narrowboat & Canal Boat Mortgage
Marine mortgage for narrowboats and widebeams used as liveaboard residences. The vessel is the security. Terms to 15 years with lower monthly payments than a standard marine loan. Permanent mooring required.
Yacht Marine Mortgage
Marine mortgage for sailing and motor yachts. Appropriate for higher-value yachts where a long ownership period justifies the lower monthly cost. Terms of 10-15 years.
Houseboat Mortgage
Marine mortgage for permanently moored floating homes and converted vessels. The specialist residential liveaboard product - structured as a mortgage against the vessel rather than land.
Commercial Vessel Mortgage
Marine mortgage for fishing vessels, charter boats, and commercial workboats. The vessel is the primary security, with the commercial income and operator track record as supporting factors.
Marine Refinance Mortgage
Refinance an existing marine mortgage - to release equity, secure a better rate, or extend the term. Specialist lenders assess the current vessel value and any existing charges.
Marine Mortgage vs Marine Loan
A marine mortgage is a longer-term, lower-payment secured product - typically 10-15 years. A standard marine hire purchase or loan is typically 5-8 years with higher monthly payments but lower total interest. We advise on which suits your situation.
How it works
Vessel and use
Vessel type, value, intended use (leisure, liveaboard, commercial), and mooring. We identify the appropriate marine mortgage lenders immediately.
Marine mortgage terms
Indicative marine mortgage terms from specialist lenders within 48-72 hours. Rate, term, LTV, and monthly payment clearly presented.
Survey and valuation
Marine survey by an accredited surveyor - required by all marine mortgage lenders. Survey cost is the borrower's responsibility.
Legal completion
Maritime solicitors register the marine mortgage as a charge against the vessel. This is the key difference from hire purchase - the owner retains title throughout.
Ready to discuss Marine Mortgage?
Call 0204 6211776 or complete our enquiry form. Indicative terms typically within hours.
Frequently asked questions
What is the difference between a marine mortgage and hire purchase?
In a marine mortgage, you own the vessel from day one - the lender holds a charge (mortgage) against it. In hire purchase, the lender owns the vessel until the final payment, then title transfers to you. Marine mortgage is typically longer-term with lower monthly payments.
Can I get a marine mortgage for a liveaboard narrowboat?
Yes - marine mortgages are the primary product for residential liveaboard narrowboat finance. Specialist lenders who understand the inland waterway market are on our panel.
What LTV is available on a marine mortgage?
Typically 70-80% for leisure vessels in good condition. Liveaboard residential vessels may attract 70-75% depending on the mooring security. Commercial vessels typically 65-80% depending on the income assessment.
Is a marine mortgage regulated?
Marine mortgages against vessels used as residential dwellings may fall within FCA regulation. Marine mortgages for leisure vessels are generally unregulated. We advise on the regulatory position for your specific situation.
Can I marine mortgage a vessel already owned outright?
Yes - a marine mortgage against an unencumbered vessel releases capital while retaining ownership. This is effectively marine equity release or refinancing against a free-and-clear vessel.
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