Close Brothers Marine Equipment Finance - Indicative Rates October 2026
| Scenario | APR Range | Max Term | Max LTV | Min Loan |
|---|---|---|---|---|
| Engine / electronics - strong credit | 7.2%–9.2% | 7 years | 80% | £5,000 |
| Sails / rigging / deck hardware | 9.2%–11.2% | 7 years | 75% | £5,000 |
| Mixed refit / complex credit | 11.2%–13.5% | 5 years | 70% | £5,000 |
Rates indicative for October 2026. Subject to lender criteria and individual circumstances.
Close Brothers Marine Equipment Finance - What You Need to Know
Close Brothers Asset Finance is one of the UK's leading specialist asset lenders, with a dedicated marine division that understands the sector in detail. Their marine equipment finance offering covers the full range of equipment types - engines, electronics, navigation, outboard motors, watermakers, solar installations and broader refit packages.
Rates from Close Brothers for marine equipment finance start at 7.2% APR - slightly sharper than Black Horse for the strongest applicants. LTV is up to 80%, with terms up to 7 years and a minimum loan of £5,000. Their pricing is particularly competitive for clean-credit business applicants financing high-quality equipment from reputable suppliers.
Close Brothers' underwriting approach is pragmatic. They understand that marine equipment often depreciates differently from industrial or commercial assets - an engine has long-term value, but electronics depreciate quickly. Their valuations and terms reflect this nuance, which means you're less likely to face a decline based on residual value concerns for equipment types they understand.
Navigation and electronics packages are an area where Close Brothers has particular experience. Chartplotter and radar packages from Garmin, Simrad, B&G and Furuno are regularly financed, and Close Brothers' underwriters understand the value and market for this equipment.
Close Brothers operates on a broker-introduced basis, and Doulton Bridging Finance has an active relationship with their marine team, enabling fast DIP responses and competitive rate negotiation for suitable applications.
Strengths
- Sharper pricing than Black Horse from 7.2% APR
- Deep marine sector specialism
- Understands equipment valuations (electronics, engines)
- Broad equipment appetite including electronics packages
- Fast DIP - 24–48 hours
Limitations
- Broker-introduced only
- 20% deposit required (80% LTV)
- Not suitable for adverse credit