Close Brothers RIB Finance - Rate Summary
| Criteria | Close Brothers - RIBs & Sports Boats |
|---|---|
| Rate range (APR) | 6.5% – 10.9% |
| Max loan term | 10 years |
| Max LTV | 80% |
| Minimum loan | £5,000 |
| Finance type | Hire Purchase (HP) |
| Early repayment | Permitted (ERC may apply) |
| Asset types | RIBs, inflatable craft, sports & speedboats |
| Borrower types | Private individuals, sole traders, limited companies |
| Rate updated | October 2026 |
About Close Brothers RIB & Sports Boat Finance
Close Brothers Asset Finance is one of the most competitive and specialist lenders in the UK marine and leisure finance market, consistently cited by brokers as a first-call option for RIBs and sports boats. With rates from 6.5% APR - the most competitive low-end rate in our lender panel - and terms up to 10 years at 80% LTV, Close Brothers offer a compelling combination of price and flexibility that suits a broad range of buyers.
Unlike bank-backed lenders, Close Brothers is a dedicated specialist finance house, meaning their underwriters have deep familiarity with marine assets across the value spectrum. They are generally more willing to consider older craft, non-standard configurations, and borrowers whose income is irregular - such as the self-employed or company directors drawing a blend of salary and dividends. This practical approach makes Close Brothers a strong choice for buyers who might struggle with the more rigid criteria applied by high-street banks.
Close Brothers - What Works Well
- Market-leading entry rate from 6.5% APR
- Specialist marine underwriting team - understands RIB valuations
- 80% LTV - competitive deposit requirement
- 10-year terms available - flexible repayment
- More accommodating to self-employed and complex income profiles
Close Brothers - Points to Consider
- Upper rate band (10.9%) still applies to higher-risk cases
- Minimum loan of £5,000 - suitable for a wide range but not micro-purchases
- Application process through broker only
- May require additional documentation for complex income
- Less widely known to private buyers - broker access essential
How Does Close Brothers Compare?
| Lender | Rate from | Max Term | Max LTV | Min Loan |
|---|---|---|---|---|
| Close Brothers | 6.5% APR | 10yr | 80% | £5,000 |
| Black Horse | 6.9% APR | 10yr | 80% | £5,000 |
| Lombard | 6.8% APR | 7yr | 75% | £10,000 |
| Barclays | 7.2% APR | 7yr | 75% | £10,000 |
| Pegasus | 7.5% APR | 15yr | 85% | £3,000 |
| United Trust | 7.8% APR | 10yr | 75% | £10,000 |
| Shawbrook | 8.2% APR | 7yr | 70% | £10,000 |
| Aldermore | 8.2% APR | 7yr | 70% | £10,000 |
| Together | 8.5% APR | 7yr | 70% | £10,000 |
| Rankin | 9.2% APR | 15yr | 85% | £3,000 |
Highlighted row: Close Brothers. All rates indicative for October 2026. Actual rate depends on applicant profile, LTV, and loan term.