Marine Finance
- Finance up to 60% subject to status, if the yacht is under a charter management contract!
- Projected charter revenue will be taken into consideration!
- Finance offered on new and previously owned yachts!
- The yacht can be financed between two or more individuals!
- Corporate finance considered.
In the past few years some of the world's leading finance houses have shut their doors after the world's big financial crises. For a while it was almost impossible to obtain marine finance, unless you left your family as hostage! Mafia finance could arrange finance quite easily, but their instalment plan was said to be simple – they would say "our instalment plan is simple, miss a payment and we break your legs"!
A few companies started offering finance with heavy security attached, including the boat as security.
Things thankfully have now improved and providing you do have a home base in the country you are domiciled it is a fairly easy process, particularly if the yacht is managed within a charter fleet within a yacht charter contract – even on the larger yachts managed by companies such as Fraser Yachts or Burgess Yachts.
The finance companies will also take the projected charter income into consideration. This makes financial sense for both individuals and corporate bodies investing in yacht ownership linked to a finance package.
Your privacy is maintained by working direct with the finance company and not having to divulge sensitive and personal information via the yacht broker.
They will consider finance of both new and previously owned vessels and sometimes will offer up to 60–80% of the cost subject to status, and occasionally will ask for extra security on property.
Unfortunately still none of the finance companies offer to help with stage payments on a new build, but the builders can be flexible working with a larger up-front payment.
Spread the cost over a hundred years and you will not feel a thing! (Not quite, but the term of the loan is flexible – spread between three, five and ten years on a reducing balance.)
Our Finance Partners
Close Brothers Aviation and Marine
UK Based Clients
Working with one of the leading independent marine finance houses, we can offer UK clients flexible marine financing on vessels subject to client status. Close Brothers Aviation and Marine are regulated by the FSA and will work with both shared ownership programs and also vessels linked to recognised charter management companies.
When lending, they will take into account the yacht's projected charter management income, which makes the yacht a viable investment to individuals or corporate clients.
CGI Finance
European Clients
CGI Finance are an international company offering Marine Finance to European clients with offices throughout the E.U. Also subject to clients status CGI can finance on most foreign registered vessels.
CGI Finance offer the services of their team of marine specialists to provide a flexible and individual response to your enquiry. Their financial solution is adapted to your requirements. CGI Finance will work to guide you through the acquisition process and are also available to provide advice with regard to evaluation, choice of flag and the registration process.
CGI Finance are able to offer loan terms of between 4 – 15 years* for loan amounts not exceeding 80%* of the purchase price of the new yacht. They are also able to finance your acquisition of a used yacht and can offer fixed and variable rate mortgages.
Your finance may be in Sterling or Euros. The choice of currency will be fixed from the outset.
As security for the loan we will require a first priority Marine Mortgage and will request the yacht is adequately insured with a marine insurance company recognised by us.
For further information, to make an application or to discuss your project further without commitment, please contact CGI Finance via GYLF.
General Yachting and Leisure Finance Ltd (GYLF)
First Floor, 55 High Street, Lymington, Hampshire, SO41 9AH
*Subject to approval by CGL, Finance products subject to conditions and change at any time without notice
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