Close Brothers Catamaran Finance: Current Rate Table
| Parameter | Detail | Notes |
|---|---|---|
| APR range | 5.7%–9.2% | Subject to credit status & vessel survey |
| Max loan term | 15 years | Longer terms reduce monthly payments |
| Max LTV | 80% | Of agreed vessel valuation |
| Minimum advance | £25,000 | Smaller amounts may attract higher rates |
| Finance type | HP / Marine Mortgage / Balloon HP | Structure depends on use and tax position |
| Vessel type | Catamarans & multihulls | New and used; UK- or foreign-flagged (case by case) |
| Decision speed | 48–72 hours indicative | Formal offer subject to survey & underwriting |
About Close Brothers Catamaran Finance
Close Brothers Asset Finance operates one of the most respected marine lending divisions in the UK, combining a deep understanding of vessel valuations with a willingness to consider a broader range of catamaran profiles than some high-street alternatives. With rates starting at 5.7% APR - the lowest headline figure across our current catamaran panel - Close Brothers can produce exceptional terms for the right applicant.
The catamaran market has grown significantly over the past decade, with buyers increasingly attracted to the stability, space, and fuel efficiency of twin-hulled vessels. Close Brothers recognises this and has developed underwriting criteria that accommodate both live-aboard catamarans and vessels used for a mix of personal cruising and private charter. Their 80% LTV and 15-year maximum term make them particularly competitive for mid- to high-value purchases in the £200,000–£700,000 range.
One practical consideration for catamaran buyers is flag-state registration. Models from builders such as Fountaine Pajot and Lagoon are frequently delivered under French registry, while some buyers opt for BVI or Cayman registration for tax or operational reasons. Close Brothers treats these situations individually rather than applying a blanket exclusion, making them a useful option where flag re-registration is impractical or undesirable - though this must be discussed at outset.
Doulton Bridging Finance packages catamaran applications for Close Brothers with full vessel detail, survey documentation, and applicant financial profile, ensuring the underwriting team receives a complete picture from day one. This minimises queries and accelerates the path from indicative terms to formal offer.
Close Brothers: Strengths & Limitations
Close Brothers - What works well
- Lowest starting rate in our panel at 5.7% for prime catamaran borrowers
- 15-year terms and 80% LTV give strong purchase-power on higher-value multihulls
- Specialist asset finance division with genuine marine underwriting expertise
- Flexible on catamaran age and construction if survey is satisfactory
- Can consider liveaboard use and some blended personal / charter arrangements
Close Brothers - Where it may not fit
- Higher rates (up to 9.2%) for non-prime or complex income structures
- Minimum £25k advance - not suited to budget or older entry-level catamarans
- Foreign-flagged vessels require pre-approval discussion - not automatic
- Decision process can be methodical; not the fastest lender for urgent completions
- Full current marine survey mandatory; older survey reports are not accepted