Marine Mortgages

Flexibility is a key feature of Bank of Scotland Marine Mortgages.

Know what you can afford before you shop

Your Marine Mortgage can be agreed in principle, so you can look for your ideal boat knowing how much you can realistically spend. Having your money at the ready could also strengthen your negotiating position.

Mortgages up to 15 years

A choice of a 10 or 15 year repayment period* – the longer the period of time you choose to take your Marine Mortgage out for, the lower your monthly repayments, which could mean you have more spending power. Interest is calculated daily, and lump sums can be paid in at any time.

* 15 year term applies to vessels up to 5 years old and with a minimum balance of £50,000.

Fixed monthly payments

Monthly payments are fixed, which means if rates rise, your loan period is extended and if rates fall, your mortgage could be paid off sooner than expected. 9.2% APR typical.

Flexibility

Speak to us to find out other more flexible ways to fund your boat.

To enable us to give you the best advice for your situation, contact us here or call us on 0845 603 2362†.

Benefits

• Lump sum repayments without penalty.
• There’s no penalty for early settlement after the first 6 months of the mortgage.
• With our Marine Mortgages, the loan is secured on the vessel with no need for extra security.
• We can offer you funding up to 80% of a boat’s purchase price or valuation, whichever is the lower.

Contact us

If the craft to be mortgaged is over 12 months old, we’ll need to see sight of your survey and valuation. Speak to us and we can point you in the right direction.

See what you could afford with our Marine Finance Calculator, and then make an enquiry.

† Telephone calls may be recorded for security purposes and monitored under our quality control procedure.