Close Brothers Yacht Import Finance - Rate Table (October 2026)
| Term | Rate from (APR) | Max LTV | Min Loan | Notes |
|---|---|---|---|---|
| Up to 5 years | 6.2% | 75% | £25,000 | Best available rate band |
| 5–10 years | 6.7% | 75% | £25,000 | Mid-term pricing |
| 10–15 years | 7.2% | 70% | £25,000 | Longer-term pricing |
| Rate ceiling | 9.8% | 65% | £25,000 | Higher-risk / adverse credit |
Close Brothers require UK or EU VAT-paid status; competitive rates for compliant vessels. Rates are indicative and subject to lender credit assessment, vessel survey and final underwriting. October 2026.
About Close Brothers Yacht Import Finance
Close Brothers Asset Finance is one of the UK's largest and most established specialist lenders, with a dedicated marine finance division that has been funding yacht and boat purchases for decades. For yacht import finance, Close Brothers offer some of the keenest rates in the market - from 6.2% APR - but their appetite is focused on compliant, well-documented cases. Specifically, they require that the vessel is either UK VAT-paid or EU VAT-paid (pre-Brexit VAT-paid status may be recognised subject to supporting documentation), and will not fund vessels where VAT status is uncertain or disputed.
This makes Close Brothers an excellent choice for buyers purchasing from reputable EU brokers or marinas where full VAT documentation is in order, but a poor fit for grey-area cases involving flags of convenience or uncertain VAT history. The maximum loan-to-value is 75%, terms extend to 15 years, and the minimum advance of £25,000 means this product targets the mid-market and above.
The strength of Close Brothers lies in pricing and reliability of process: their credit decisions are consistent, their underwriting timeline predictable, and their legal documentation well-established. For a buyer purchasing a French-registered Jeanneau or a Spanish-flagged Beneteau with clean VAT paperwork, Close Brothers will typically be the most competitive institutional lender in the market. Doulton Bridging Finance has a strong relationship with Close Brothers marine division and can facilitate pre-approval discussions before a vessel is identified.
Strengths
- Most competitive rates from 6.2% APR
- Institutional lender with decades of marine experience
- Predictable, consistent underwriting process
- Up to 15 years term
- Available for UK and EU VAT-paid vessels
Limitations to note
- Strict VAT documentation requirements - uncertain VAT status not accepted
- 75% maximum LTV (lower than some specialists)
- £25,000 minimum advance
- Not suitable for flags-of-convenience vessels without VAT clarity
- Less flexible on adverse credit than specialist lenders