Together Commercial Vessel Finance - Current Rates
| Finance Type | APR Range | Max Term | Max LTV | Min Loan | Typical Use |
|---|---|---|---|---|---|
| Hire Purchase (HP) | 7.5%–12% | 7 years | 70% | £50,000 | Ownership at end of term |
| Finance Lease | 7.5%–12% | 7 years | 70% | £50,000 | Off-balance-sheet option |
| Refinance / Equity Release | 7.5%–12% | 7 years | 70% | £50,000 | Release capital from existing vessel |
Rates correct as at October 2026 and subject to change. Individual rates depend on business profile, vessel type, LTV and term. Business lending - no consumer credit regulations apply.
About Together Commercial Vessel Finance
Together is a Manchester-based specialist lender with a long track record in secured business lending, and their commercial asset finance proposition is explicitly designed for borrowers who don't fit conventional lender templates. In the commercial vessel space, Together occupies the higher-rate, higher-flexibility end of the spectrum: rates of 7.5%–12% APR reflect the additional risk they are prepared to take, but their willingness to look at complex trading profiles, non-standard vessel types and situations where mainstream lenders have declined makes them a valuable option when others are not available. Together are particularly useful for businesses with short trading histories, sole traders, or operators whose vessel income is difficult to evidence through standard accounts - for example, seasonal coastal tourism operators or new entrants to the fishing sector. Their 70% LTV and 7-year term are standard for this segment; the trade-off is a higher rate than the more conservative lenders. Together require MCA documentation and marine survey as standard, and personal guarantees are typically a condition of lending for company applicants. Doulton Bridging Finance will present Together alongside other options so you can make an informed comparison before committing.
Commercial Vessel Registration & MCA Requirements
All commercial vessels financed through Together must comply with UK maritime regulatory requirements. Key points for borrowers:
- MCA Coding: Commercially operated vessels carrying passengers or crew must hold the appropriate MCA Coding Certificate for their area of operation (Codes 1–6). Lenders will verify this before drawdown.
- Part I Registration: Most lenders prefer Part I registration on the UK Ship Register, which provides clear legal title and supports the lender's security interest. SSR is acceptable for some vessel types.
- SSR Registration: The Small Ships Register is acceptable for fishing vessels and some workboats. Part I is preferred for vessels over 24m.
- Marine Survey: An independent survey from an MCA-recognised surveyor is required for all commercial vessel finance applications. Survey costs are typically borne by the borrower.
UK Seafood Fund & Fishing Vessel Grants
If you are financing a fishing vessel, the UK Seafood Fund (administered by Defra and the devolved authorities) provides grant funding for vessel upgrades, energy efficiency improvements and safety equipment. Grant funding can often be combined with commercial vessel finance - the grant covers capital expenditure while finance covers the vessel purchase. Speak to Doulton Bridging Finance about structuring a combined finance and grant arrangement.
Strengths of Together for Commercial Vessel Finance
- Prepared to consider complex cases that mainstream lenders decline
- Flexible on business age and trading history
- Useful for sole traders and new-entrant commercial operators
- Fast credit decisions from an experienced specialist lending team
- Can consider non-standard vessel types and niche commercial uses
Limitations to Consider
- Rates of 7.5%–12% APR - among the higher in this comparison
- 70% LTV and 7-year term: higher deposits and shorter payback period
- Personal guarantees typically required for company applicants
- Not the best choice if a lower-rate lender will accept your application
Compare Together Against the Whole Market
| Lender | APR From | Max Term | Max LTV | Min Loan |
|---|---|---|---|---|
| Close Brothers | 5.9% | 10 yrs | 80% | £25,000 |
| Lombard | 5.5% | 10 yrs | 75% | £50,000 |
| Shawbrook | 6.5% | 7 yrs | 70% | £50,000 |
| United Trust Bank | 6.2% | 10 yrs | 75% | £50,000 |
| Aldermore | 6.8% | 7 yrs | 70% | £50,000 |
| Together | 7.5% | 7 yrs | 70% | £50,000 |
| Rankin | 8.2% | 15 yrs | 80% | £10,000 |
| Funding Circle | 7.9% | 5 yrs | 70% | £10,000 |
Highlighted row = Together. Source: Doulton Bridging Finance lender panel, October 2026.