Current Close Brothers Superyacht Finance Rates
| Rate (APR) | Max LTV | Max Term | Min Loan | Lender Type |
|---|---|---|---|---|
| 5.5%–8.5% APR | Up to 70% | Up to 15 years | £250,000 | Specialist Finance House |
Rates are indicative for October 2026 and subject to change. Final rate depends on LTV, term, vessel type, credit profile and overall client relationship.
Market Context & How Close Brothers Compares
Close Brothers provides an important bridging function in the superyacht finance market - accessible to clients who do not meet the private banking thresholds of Coutts, HSBC Private or Barclays, but who are acquiring vessels that exceed typical asset finance limits. Their £250,000 minimum and 70% LTV make them the most accessible lender in this guide, and their 15-year terms are competitive with the private banks.
The trade-off is in rate. At 5.5%–8.5% APR, Close Brothers sits meaningfully above the private banking tier, reflecting the broader risk appetite and the absence of a relationship banking model. For clients who are not private banking candidates - perhaps first-time superyacht buyers, those with more complex credit histories, or those who simply prefer to keep their wealth management separate from their asset finance - this is the appropriate trade-off.
Close Brothers has genuine expertise in the marine market. Their underwriting team understands vessel values, survey requirements and the nuances of MCA/Large Yacht Code compliance in a way that some generalist lenders do not. They are comfortable with hire purchase, balloon HP and finance lease structures, and will assess both personal and corporate applicants.
For clients using a superyacht in a semi-commercial capacity - occasional charter income alongside private use - Close Brothers is one of the more pragmatic lenders. They will assess the income profile of the charter business and may factor this into affordability, though they do not treat it as a primary repayment source in the way a commercial shipping lender would.
Doulton Bridging Finance regularly works with Close Brothers for superyacht cases where private banking is not the right route, and where their combination of accessible LTV, reasonable terms and pragmatic underwriting delivers a good outcome for the client.
Close Brothers vs the Full Market - All Lenders
| Lender | Rate (APR) | Max LTV | Max Term | Min Loan | Type |
|---|---|---|---|---|---|
| Investec | 4.8%–7.2% | Up to 70% | Up to 15 yrs | £500,000 | Private Bank / Specialist Lender |
| Lombard | 5.2%–7.8% | Up to 65% | Up to 12 yrs | £500,000 | Specialist / RBS Group |
| Barclays Private Bank | 4.5%–6.9% | Up to 65% | Up to 15 yrs | £1,000,000 | Private Bank |
| HSBC Private Bank | 4.3%–6.5% | Up to 65% | Up to 15 yrs | £1,000,000 | Global Private Bank |
| Coutts | 4.2%–6.8% | Up to 60% | Up to 15 yrs | £1,000,000 | Royal Private Bank |
| Close Brothers | 5.5%–8.5% | Up to 70% | Up to 15 yrs | £250,000 | Specialist Finance House |
| Pegasus Marine Finance | 5.9%–9.2% | Up to 75% | Up to 20 yrs | £100,000 | Specialist Marine Lender |
| Credit Suisse UK | 4.6%–7.0% | Up to 65% | Up to 15 yrs | £1,000,000 | International Private Bank (UBS Group) |
Close Brothers Key Advantages
- Lower minimum (£250k) opens access to entry-level superyachts
- Higher 70% LTV than most private banks
- 15-year terms available
- More flexible on credit history than private banks
- Faster decisioning than relationship banking model
Where to Consider Alternatives
- Higher rates than private banks (5.5%–8.5% APR)
- Less suitable for ultra-complex offshore structures
- Not a private banking relationship product
- Rates reflect broader risk appetite rather than client wealth