United Trust Bank Commercial Vessel Finance - Current Rates
| Finance Type | APR Range | Max Term | Max LTV | Min Loan | Typical Use |
|---|---|---|---|---|---|
| Hire Purchase (HP) | 6.2%–9.8% | 10 years | 75% | £50,000 | Ownership at end of term |
| Finance Lease | 6.2%–9.8% | 10 years | 75% | £50,000 | Off-balance-sheet option |
| Refinance / Equity Release | 6.2%–9.8% | 10 years | 75% | £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 United Trust Bank Commercial Vessel Finance
United Trust Bank (UTB) is a specialist UK lender with a growing presence in marine asset finance. Their commercial vessel proposition is positioned squarely between the major clearers and pure specialist lenders: they offer competitive rates of 6.2%–9.8% APR, 10-year terms and a 75% LTV ceiling, making them well suited to mid-market commercial vessel transactions where the borrower has a solid trading history but perhaps doesn't fully meet Lombard's strict criteria. UTB underwriters have genuine marine experience and understand the operational nuances of commercial vessels: seasonal revenue patterns for fishing boats, charter income volatility, dry-docking cycles and the implications of MCA class coding on vessel value and insurability. Hire purchase is UTB's core commercial vessel product, though finance lease is available for larger transactions. They are comfortable with vessels from £50,000 to several million pounds and have placed some notable large-ticket transactions in the patrol craft and offshore workboat segments. The bank maintains a dedicated asset finance team and typically offers faster decisions than the large clearing banks, with most straightforward applications receiving a credit decision within 48–72 hours of a complete submission.
Commercial Vessel Registration & MCA Requirements
All commercial vessels financed through United Trust Bank 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 United Trust Bank for Commercial Vessel Finance
- 10-year terms - matches the best in the market on term length
- Genuine marine underwriting expertise - understands commercial vessel income profiles
- Faster decisions than clearing banks: typically 48–72 hours for complete cases
- Competitive mid-market rates: 6.2% APR for strong applications
- Comfortable up to multi-million-pound transactions
Limitations to Consider
- 75% LTV - deposit requirement higher than Close Brothers
- Minimum £50,000 - not appropriate for entry-level workboat finance
- HP is primary product; operating lease not currently available
- Best rates require established trading history and clean credit profile
Compare United Trust Bank 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 = United Trust Bank. Source: Doulton Bridging Finance lender panel, October 2026.