Close Brothers Motor Yacht Finance Rates - At a Glance
| Parameter | Detail |
|---|---|
| Indicative APR range | 5.7% – 9.2% APR |
| Maximum term | 15 years |
| Maximum LTV | 80% |
| Minimum loan | £25,000 |
| Finance type | Hire Purchase / Marine Mortgage / Balloon HP |
| Vessel types accepted | Motor yachts, cruisers, sports boats (GRP, steel, aluminium) |
| New & used | Both considered |
| Rate as at | October 2026 (indicative - subject to status and change) |
Market Context & Broker Commentary
Close Brothers Asset Finance is consistently among the most competitive lenders on the Doulton Bridging Finance motor yacht panel, with indicative rates starting from 5.7% APR - among the lowest available for non-HNW borrowers without a private banking relationship. Their specialist asset finance division understands leisure marine assets rather than treating them as generic hire purchase items, which translates into more nuanced underwriting decisions. For motor yacht finance specifically, Close Brothers will consider vessels from £25,000 upward and can lend up to 80% of the purchase price - making them accessible to buyers who have a 20% deposit but prefer to retain working capital rather than commit a larger sum upfront. Their 15-year maximum term broadly matches the market norm and helps to keep monthly repayments manageable across a range of loan values. The close-knit nature of their asset finance team means case handlers tend to have genuine knowledge of leisure marine assets, which matters when presenting non-standard cases: older vessels with character, catamarans, aluminium-hulled ocean voyagers or high-specification performance craft all benefit from being assessed by underwriters who understand the underlying collateral value. From a broker perspective, Close Brothers consistently appears in the top tier of rate comparisons for well-qualified buyers. Their processing is methodical rather than fast, and they will expect clean financials, a current survey and evidence of mooring arrangements. Doulton Bridging Finance manages this process end-to-end, ensuring your application is packaged to Close Brothers' requirements before submission.
Strengths of Close Brothers for Motor Yacht Finance
- One of the most competitive starting rates on our motor yacht panel at 5.7% APR
- Dedicated specialist asset finance division with strong marine expertise
- 80% LTV available - lower deposit requirement than many competitors
- Minimum loan from £25,000 covers a wide range of motor yacht values
- Flexible around unusual vessel types and non-standard structures
Limitations to Consider
- Higher-rate tier can reach 9.2% for weaker credit profiles
- Marine survey usually required for vessels over £75,000
- Less established for liveaboard or charter-income vessels
- Underwriting can be thorough - full financial disclosure expected