Rankin RIB Finance - Rate Summary
| Criteria | Rankin - RIBs & Sports Boats |
|---|---|
| Rate range (APR) | 9.2% – 15.9% |
| Max loan term | 15 years |
| Max LTV | 85% |
| Minimum loan | £3,000 |
| 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 Rankin RIB & Sports Boat Finance
Rankin Finance is a specialist leisure and marine lender whose RIB and sports boat proposition is shaped around consumer accessibility and long-term payment comfort. With rates from 9.2% APR, Rankin's entry price is higher than many panel lenders - but they offset this with the longest available terms (up to 15 years), the highest LTV on our panel (85%), and a minimum loan of just £3,000. This combination makes Rankin particularly relevant for buyers whose priority is manageable monthly payments rather than minimum total interest.
Rankin is often the right conversation for buyers of mid-range craft (£15,000–£50,000) who want to preserve monthly cashflow, spread the cost over the longest possible period, and minimise upfront capital. Their 85% LTV means a deposit of just 15% is required, and on a £40,000 RIB that translates to a £6,000 deposit - materially lower than the 25% required by some competitors. Their consumer-focused underwriting approach makes them accessible to first-time borrowers and those newer to formal lending products.
Rankin - What Works Well
- Highest LTV available - 85% reduces deposit burden
- 15-year maximum term - lowest possible monthly payments
- Minimum loan of just £3,000
- Consumer-friendly underwriting approach
- Accessible for first-time buyers and those new to marine finance
Rankin - Points to Consider
- Highest entry rate on our panel at 9.2% APR
- Upper rate band at 15.9% - significant for weaker credit profiles
- Longer terms mean substantially more total interest
- Less suitable for buyers who can afford to minimise total cost
- Less known to the commercial borrower market
How Does Rankin 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: Rankin. All rates indicative for October 2026. Actual rate depends on applicant profile, LTV, and loan term.