Best Commercial Vessel Finance Rates October 2026

Commercial Vessel Finance Rate Comparison - October 2026

Lender	APR From	APR To	Max Term	Max LTV	Min Loan	Best For
Lombard	5.5%	9.0%	10 yrs	75%	£50,000	Established large businesses
Close Brothers	5.9%	9.5%	10 yrs	80%	£25,000	Best LTV + specialist underwriting
United Trust Bank	6.2%	9.8%	10 yrs	75%	£50,000	Mid-market with marine expertise
Shawbrook	6.5%	10.5%	7 yrs	70%	£50,000	Specialist vessel types
Aldermore	6.8%	10.5%	7 yrs	70%	£50,000	SMEs with complex profiles
Funding Circle	7.9%	14.5%	5 yrs	70%	£10,000	Fast digital decisions for SMEs
Together	7.5%	12.0%	7 yrs	70%	£50,000	Complex cases / declined elsewhere
Rankin	8.2%	13.5%	15 yrs	80%	£10,000	Lowest monthly payment / small vessels

Rates correct as at October 2026. Subject to change. Highlighted row = strongest overall proposition for most buyers. Business lending - no consumer credit regulation applies.

What Determines Your Commercial Vessel Finance Rate?

Commercial vessel finance rates are risk-adjusted - meaning the rate you are offered reflects the lender's assessment of the credit and asset risk in your specific transaction. The principal factors are:

Business Profile

Trading history, profitability, sector and credit history are the primary credit determinants. Strong established businesses with clean credit access the lowest rates in the table above.

Vessel Type & Age

Newer, well-documented vessels with clear MCA coding attract lower rates. Older vessels, specialist types or those with incomplete documentation may price higher or require specialist lenders.

Loan-to-Value (LTV)

Lower LTV - meaning a larger deposit - typically produces a lower rate. At 50% LTV, rates are materially lower than at 75–80% LTV from the same lender.

Term

Longer terms carry slightly more risk for lenders. A 10-year term may price fractionally higher than a 5-year term with the same lender, though the lower monthly payment often justifies it.

Finance Structure

Hire purchase is typically the most straightforward and cheapest to arrange. Finance lease and operating lease involve additional complexity that may affect pricing.

MCA Certification

Fully MCA-coded vessels with valid coding certificates provide lenders with confidence in the asset's legal operating status and insurability, which supports lower rates.

How to Secure the Best Rate

The most reliable route to the best commercial vessel finance rate is through an independent whole-of-market broker. Approaching lenders individually is time-consuming, leaves multiple credit footprints, and provides no comparison. A broker submits once, compares multiple offers, and returns with a recommendation.

Practical steps to improve your rate:

File accounts on time and ensure they accurately reflect profitability
Ensure the vessel has valid MCA coding and current survey documentation
Provide a deposit that reduces LTV below 75% if possible
Address any adverse credit entries before applying
Use a broker to present your case in its strongest light across the market

UK Seafood Fund - Grant Funding for Fishing Vessels

If you are purchasing or upgrading a fishing vessel, the UK Seafood Fund offers grant funding for eligible capital expenditure. Grant funding can be combined with commercial vessel finance - the grant reduces the amount you need to borrow, improving your LTV and potentially your rate. Speak to Doulton Bridging Finance about structuring a grant-and-finance arrangement before submitting any application.

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 best commercial vessel finance rate in October 2026?

Lombard leads on headline APR at 5.5%, with Close Brothers at 5.9%. However, best rate depends on your business profile, vessel type and LTV. A broker comparison is the only reliable way to find your best available rate.

Can I get a commercial vessel finance rate below 6% APR?

Yes - Lombard quotes from 5.5% APR and Close Brothers from 5.9% for the strongest applications. These rates are reserved for established businesses with strong accounts, clean credit and well-documented vessels.

Does vessel age affect the commercial finance rate?

Yes. Older vessels attract higher rates from most lenders, as depreciation and residual value uncertainty increase the lender's risk. Specialist lenders like Rankin are more flexible on vessel age.

Is commercial vessel finance regulated by the FCA?

Commercial vessel finance arranged for business purposes is not subject to consumer credit regulation but is covered by FCA regulation for brokers (CONC) who arrange it. Doulton Bridging Finance is FCA-authorised (No. 814533).

How quickly can I access the best commercial vessel finance rates?

Doulton Bridging Finance can return initial indicative terms within 24–48 hours of a complete enquiry. Formal offers typically follow within 5–10 working days, subject to survey and documentation.