Black Horse Marine Finance - Rate Table
| Product | APR Range | Max Term | Max LTV | Min Loan | Notes |
|---|---|---|---|---|---|
| Hire Purchase (HP) | 5.9% – 7.2% | 15 years | 80% | £10,000 | Fixed rate, balloon option available |
| Marine Mortgage | 6.1% – 8.4% | 15 years | 80% | £25,000 | Secured on vessel, capital repayment |
| Balloon HP | 5.9% – 7.5% | 10 years | 80% | £20,000 | Lower monthly, lump sum at end |
| Refinance | 6.4% – 8.4% | 12 years | 75% | £25,000 | Equity release from existing vessel |
Rates are indicative and for illustrative purposes only. Your rate will depend on your individual circumstances, credit history, vessel specification, and loan-to-value ratio. Rates correct as of October 2026 and subject to change.
Market Context
Black Horse is one of the UK's most established marine finance lenders, operating as part of Lloyds Banking Group. Their sailing yacht finance proposition is well-regarded for competitive base rates, straightforward credit underwriting, and a broad panel of accepted vessel types - from production cruisers to quality blue-water passage makers.
For sailing yacht purchasers in the £10,000 to £500,000 range, Black Horse typically offers Hire Purchase agreements with fixed monthly repayments, giving buyers certainty over the term. Their maximum 80% LTV is notably generous compared to many specialist lenders, making them an attractive option where buyers wish to preserve capital and spread the cost over 12–15 years.
Black Horse tends to favour newer vessels - typically under 15 years old - though specialist cases can sometimes be placed with broker assistance. Private buyers and sole traders can both apply, and income verification requirements are aligned with mainstream lending standards. Charter vessels and those registered under foreign flags are assessed individually.
The lender's scale means it can offer rates towards the lower end of the market for straightforward profiles: employed applicants, UK-registered vessels, and mainstream manufacturers such as Beneteau, Jeanneau, Hanse, and Hallberg-Rassy. Self-employed and complex income cases may attract higher margins.
Working through Doulton Bridging Finance, you benefit from our whole-of-market positioning - we can present your application to Black Horse alongside other panel lenders simultaneously, ensuring you receive the most competitive indicative terms before committing to any agreement.
Strengths
- Part of Lloyds Banking Group - financial stability and institutional backing
- Competitive rates from 5.9% APR for straightforward employed applicants
- Up to 80% LTV on eligible sailing yachts - one of the highest on the panel
- Up to 15-year term providing lower monthly payments for larger vessels
Considerations
- Preference for vessels under 15 years old - older builds may require additional valuation evidence or specialist placement.
- Charter-use yachts are assessed individually and may attract a rate premium.
- Self-employed applicants with complex accounts may find the standard underwriting process more involved.