Close Brothers Sailing Yacht Finance - Rate Table
| Product | APR Range | Max Term | Max LTV | Min Loan | Notes |
|---|---|---|---|---|---|
| Hire Purchase (HP) | 5.7% – 7.8% | 15 years | 80% | £10,000 | Fixed rate, wide vessel acceptance |
| Marine Mortgage | 6.0% – 8.9% | 15 years | 80% | £25,000 | Capital repayment on vessel security |
| Finance Lease | 5.9% – 8.2% | 10 years | 80% | £25,000 | Business use, VAT advantage |
| Balloon HP | 5.7% – 8.0% | 12 years | 80% | £15,000 | Reduced monthly, GFV at end |
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
Close Brothers is one of the UK's most specialist and highly regarded asset finance lenders, with a marine finance division that has been operating for decades. They are particularly well-known in the sailing yacht market for their willingness to consider a broader range of vessel types, ages, and borrower profiles than many mainstream lenders.
Their sailing yacht finance rates start from 5.7% APR - among the most competitive available - and they offer up to 80% LTV with a minimum loan of just £10,000. This combination of accessibility and competitive pricing makes Close Brothers an excellent option for buyers at multiple points of the market, from entry-level production sailing yachts to quality blue-water cruisers.
Close Brothers' underwriting approach is informed by deep sector knowledge. Their marine team understands the distinction between a standard coastal cruiser and a long-range passage-maker, and can assess vessels of older age or unusual specification where other lenders may decline. This specialist appetite extends to classic sailing yachts, wooden vessels in good condition, and craft with charter history.
Terms of up to 15 years are available on their HP and marine mortgage products, and their Finance Lease product offers a VAT-efficient structure for business purchasers - a meaningful consideration for those buying through a limited company or partnership. Balloon HP options further reduce monthly outgoings for buyers who anticipate reselling at end of term.
For self-employed borrowers, Close Brothers has a pragmatic approach to income assessment, often accepting one year of accounts for established sole traders. This flexibility, combined with their competitive base rates, makes them a priority lender in our submissions for sailing yacht finance cases.
Strengths
- Lowest indicative base rate on the panel at 5.7% APR for eligible cases
- Up to 80% LTV with a low £10,000 minimum - accessible across the yacht market
- Specialist marine underwriting team: broader vessel and borrower acceptance than mainstream banks
- Finance Lease product available for business purchasers - potential VAT efficiency
Considerations
- Rate range is wide (5.7%–8.9%) - the best pricing is reserved for straightforward, low-LTV applications with clean credit.
- Classic or wooden vessels may require a professional surveyor's report as a condition of lending.
- Business lease structures require VAT registration and appropriate business use of the vessel.