Pegasus Marine Finance Electric Boat Rates - October 2026
| Lender | Rate From | Rate To | Max Term | Max LTV | Min Loan |
|---|---|---|---|---|---|
| Pegasus Marine Finance (Electric) 15yr term; £5k minimum | 6.0% | 9.5% | 15 yrs | 80% LTV | £5,000 |
| Black Horse | 5.5% | 8.9% | 10 yrs | 80% LTV | £10,000 |
| Close Brothers | 5.4% | 8.5% | 10 yrs | 80% LTV | £10,000 |
| Lombard | 5.2% | 8.0% | 10 yrs | 75% LTV | £25,000 |
| United Trust Bank | 6.2% | 9.5% | 10 yrs | 75% LTV | £25,000 |
Rates indicative only. Pegasus row highlighted.
Pegasus Marine Finance: Flexible Lending for the Electric Boat Market
Pegasus Marine Finance is a UK specialist lender whose appetite for non-standard marine assets makes it one of the most important lenders in any electric boat finance comparison. While mainstream banks apply their most cautious underwriting to electric vessels, Pegasus approaches the segment with greater flexibility - reflected in a £5,000 minimum loan, 80% LTV, and a market-leading 15-year maximum term.
The 15-year term is significant. On a £50,000 electric boat finance package at 7.0% APR, stretching from 10 years to 15 years reduces the monthly payment by around £120 - meaningful for private buyers budgeting carefully. It also reflects Pegasus's view that a well-specified electric vessel with a quality battery pack (8–10 year warranty, premium chemistry, established OEM service network) has a viable 15-year ownership life.
Pegasus has shown genuine willingness to consider electric boat finance across a wider range of asset types than most competitors. Small electric dayboats, electric RIBs, electric outboard conversions (where the underlying hull is of good quality), and limited-production craft from emerging European manufacturers are all potentially within scope - subject to individual assessment. This breadth of appetite is rare among mainstream marine lenders.
The residual value challenge is the same across all lenders: the UK secondary market for electric boats is young, and lenders pricing a 15-year HP must make assumptions about battery degradation, replacement costs, and technology change over a long horizon. Pegasus manages this through conservative initial valuations and careful asset selection rather than by simply refusing the category. Battery warranty documentation, OEM specifications, and - for larger loans - a specialist survey of the propulsion system will all support a strong application.
For buyers whose electric vessel falls below the minimum thresholds of Lombard (£25,000) or United Trust (£25,000) - particularly private individuals buying a smaller electric dayboat or RIB - Pegasus and Black Horse are often the most accessible routes to HP finance. Pegasus's specialist marine focus means underwriting conversations are quicker and more informed than at a generalist bank.
Strengths & Limitations
Strengths
- 15-year maximum term - lowest monthly payments
- £5,000 minimum - most accessible for smaller craft
- 80% LTV competitive for electric segment
- Appetite for conversions and non-standard electric assets
- True specialist marine lender
Limitations
- Rates start higher (6.0%) than Lombard or Close Brothers
- Upper rate (9.5%) relatively elevated
- Green finance mandate less explicit than Triodos/Ecology
- Residual value assumptions still conservative
- Less commercial lending focus than Lombard