WP Admin, Author at Promarine Finance

10 things we learned at Southampton International Boat Show 2021

Southampton International Boat Show (SIBS) recently took place for the first time since 2019, due to the Covid-19 pandemic.

For the Promarine Finance team, and many other exhibitors and attendees, this was one of the first in-person events they’d attended in almost 18 months.

This year, Stuart and the team were more involved than ever before, with two Foredeck stage appearances, including providing a seminar on marine finance and sitting on the ‘Buy a Boat’ panel.

So, what did the team take away from this year’s event?

1. It was a busy show for boaters

The show was inundated with boaters from all over, looking to shop around, upgrade their vessels, or even purchase a boat for the very first time. It’s safe to say that the boating community has sorely missed in-person events — and was excited to be back.

2. COVID-19 restrictions didn’t put off serious buyers

While restrictions have eased, there is still, understandably, some uncertainty around large-scale events. SIBS ensured attendees provided proof of a negative lateral flow test, taken 48 hours prior to the show, so guests could be comfortable and safe. Attendees were happy to comply with this rule, and the new safety measures did not put serious buyers off.

3. Deals can still be made at in-person events

The shift to online purchases over the past 18 months has been vital — and there is certainly still a place for it. However, we were pleased to learn that a good, old-fashioned deal can still be made in person. This is great news for the industry as a whole.

4. Pre-approved finance enables buyers to confirm and secure their purchase

If you’re looking to finance a boat, then getting the finance pre-approved (before you start shopping for your dream boat) will help you secure your purchase — and speed up the overall process.

5. Demand is up, and so are prices

Delays in building, shipping, and transportation of goods have caused prices to skyrocket in a number of industries, and the marine industry is no exception. Plus, an increase in staycations has meant a rise in demand for boats — both new and second-hand. For the first time ever, the boat prices are appreciating.

6. It’s more important than ever to have a full, pre-purchase survey

With the growing popularity of used boats, a pre-purchase survey is a must. Buying a boat should be a well-considered decision, and inspecting the boat should be a key part of that.

7. Part-exchange (PX) deals can be made

Fantastic news for existing boat owners: if you’re looking to upgrade your boat, we now offer part-exchange directly and through our broker partners. Get in touch and we can help find the right solution for you.

8. We saw more existing customers than ever before

It was fantastic to see so many Promarine customers stop by our stand to say hi. Helping to make their boating dreams come true is what it’s all about — so we were pleased to see more than ever before, at this year’s event.

9. We need a bigger stand!

A quick wander around Southampton International Boat Show will open your eyes to a number of impressive, creative and attention-grabbing stands. With the entire Promarine team out in full force, and tons of interested visitors, we quickly realised that a bigger stand is a must. Watch this space!

10. Competition is changing

The marine finance industry has seen a lot of changes over the past few months, with some of our previous competitors exiting the market, others falling behind the curve, and some new competition on the horizon.

Promarine Finance is a leading provider of marine finance. To find out if you’re eligible, get a quote today.

Promarine’s Stuart Austin educates Southampton Boat Show visitors on marine finance and routes to boat ownership

Stuart Austin, director of Promarine Finance, hosted a talk at Southampton International Boat Show 2021, which offered the event’s visitors an introduction to boat finance.

Stuart discussed how the marine finance sector has changed since the 2008 crash and gave a summary of the marine finance process as a whole, including flexibility, early settlement, and the overall involvement of the lender.

According to Stuart, who started out as a commercial broker 30 years ago, a lot has changed in the marine finance industry since Promarine Finance was launched. He said: “The current climate has seen several lenders exit the market in recent years, liveaboard vessels rising in popularity, and for the first time ever, boats are appreciating in value. We think it’s important that future boat buyers know that they have options.

He added: “Marine finance is a simple way to obtain something valuable and spread the cost across monthly payments that suit you, so that it becomes affordable. At Promarine Finance, we help like-minded people get the right boat, without the cost being the most defining factor.”
The talk was streamed live on Facebook for viewers who were unable to attend.

Southampton International Boat Show returned this year after a two-year hiatus during the COVID-19 pandemic and holds a special place for Stuart and his team of five passionate boaters. Promarine Finance, which celebrated its eleventh anniversary during this year’s event, was launched at the show in 2010.

Stuart said: “It’s great to be back at face-to-face events this year, particularly one that is such a significant part of the history of Promarine Finance. We’ve been able to help a number of customers to get afloat over the first three days and we look forward to the remainder of the show.”

Watch the talk below

Promarine Finance is exhibiting at Southampton International Boat Show on stand EO14. Watch the talk in full!

Promarine Finance appoints inland waterways expert to senior management team

Leading marine finance lender, Promarine Finance has appointed Matt Ashmall to its senior management team, which will strengthen Promarine’s offering by utilising his inland waterways knowledge.

Matt, who has been involved in asset finance for over 30 years with the last 25 years specialising in the inland waterways sector, will be using his experience to bring Promarine’s clients the very best advice and service for their marine purchases.

Born and raised in Abingdon on Thames in Oxfordshire, Matt’s had a lifelong passion for everything water-based and is keen to get as many people as possible on the water. “I’m really excited about the new role at Promarine and I look forward to utilising my experience and knowledge to help Promarine’s customers. There are approximately 4,700 miles of navigable canals and waterways in the UK and I look forward to helping people explore it.”

Founder of the ‘Favourite Boat of Show’ competition at Crick Boat Show, Matt has owned canoes, sailing dinghies and wind surfers over the years and enjoyed many trips on the rivers and canals in and around Oxfordshire.

Stuart Austin, director of Promarine said: “I’m really pleased to welcome Matt onboard the Promarine team. Interest in the UK’s inland waterways has increased greatly since the start of the coronavirus pandemic and we’ve seen a 40 percent increase in the number of finance deals for liveaboard vessels since the start of this year. Many customers are taking advantage of the affordability, the lifestyle and the freedom a liveaboard vessel offers and we’re seeing customers opting for liveaboard vessels are also getting younger. Liveaboards such as canalboats are no longer considered an option for just the retiree, instead drawing people who are seeking alternative lifestyles with freedom from the traditional housing options.

“Matt is joining the team at a really exciting time of growth and I’m delighted Promarine can offer even more expertise to its customers with the knowledge Matt has.”

Find out more about Promarine Finance

Promarine Finance offers fixed rate marine mortgages for new and used RIBs, motorboats, sailing yachts and canal boats over periods of two to 15 years and is one of only a few finance providers for liveaboard vessels in the UK.

To find out if you’re eligible for marine finance, get an instant personalised quote for your needs and have it approved in 30 minutes.

Join us at Southampton International Boat Show for our Boat Finance seminar

This September, we will be exhibiting at Britain’s biggest boat show, Southampton International Boat Show, and it’s set to be better than ever before.

On 13th September our director, Stuart Austin will be hosting a 30-minute boat finance talk at the event to help people that are new to boating.

Stuart said: “We’re excited not only to be exhibiting but also hosting a talk at this year’s boat show. After such a long time without in-person events, it will be great to be back doing what we love. Promarine Finance was launched at this very show in 2010, so this year will be of particular importance to us as we celebrate this milestone.”

With the growing popularity of boating and boat ownership, Stuart wants to share some of his years of experience with those considering buying or financing a boat.

The talk from Promarine Finance, which will take place on Monday 13th September, will cover:

an introduction to boat finance and how it can help customers and brokers
how finance has changed since the 2008 crash, and what is different today
a summary of the marine financing process, including agreement, settlement, and upgrades
Q/A session

He added: “Over the past year, we’ve seen a huge surge in demand for boat finance and it doesn’t seem to be slowing down. Boat ownership is a dream for a number of our clients, and we love nothing more than helping to make those dreams a reality.”

Southampton International Boat Show takes place at Mayflower Park, Southampton, from 10-19 September 2021. To join Stuart and a host of other experts in the boating community, tickets are available to purchase here.

To find out if you’re eligible for marine finance, get an instant personalised quote for your needs and have it approved in 30 minutes.

Our boating story: how Promarine helped us find our forever home

We already had a boat, 56ft, for nearly six years. We mainly cruised until we found a long-term mooring space. We set up home and loved it! It was like being on holiday all the time. We both work, so it had to be in an area accessible to a train station. We bought a dog and decided we needed a garden for him to play and run around in, so we started looking at houses.

One weekend, while out in the boat on a stretch of the Grand Union Canal in Warwickshire, the sun beating down, we decided we can’t move to a house. Our dog has all the surrounding areas he wants; he can run around the picnic areas and still see his mates, so we decided against a house and plumped for a new boat instead.  

How were we going to fund a new boat, we thought. We started looking at bank loans, but you can only get a certain amount. We Googled marine boat loans. Several companies came up. One stuck out in particular. It was personal, not just a company. I read the website and liked what I read. I put in my details for a quote. Not long after that, I got a call from Charlie at Promarine Finance. What a lovely chap. Very helpful, and we got on really well. That was the start of our journey.

We were pre-approved for a marine mortgage. We had some issues but nothing was too much trouble for Promarine to try and solve. 

Now go find a boat, they said! 

We looked and looked, had seen many, and none were suitable. Then by chance, we happened to see one that we had seen 2.5 years ago when we weren’t looking: the Mandolin, 70ft. We viewed it and it was the one. Offers were made and accepted. 

Charlie at Promarine Finance saw us through, step by step. Promarine dealt with any issues with the sellers and boat company to make the whole process less stressful for us. As everyone knows, buying a new home can be stressful. 

Stuart and Liza at Promarine are the Directors.  Really lovely people to talk to and personal to your needs. We spoke to Stuart, who took us through the process of signing the agreement, and had a general chit chat too, which was nice.  Completion went through smoothly. Liza rang us in the morning to confirm all was sorted.  We cruised back to Warwickshire to our mooring.

We couldn’t have asked for a better company to see us through our forever home.   

You don’t just deal with a company, you deal with real people who care, and try to get you your dream. 

Thank you Promarine, we appreciate everything you have done for us. 

That’s our boating story. Let Promarine assist you in securing your forever home, or even just a holiday home.

Sharon & Darren

Interested in starting your own boat journey?

To find out if you’re eligible for marine finance, get an instant personalised quote for your needs and have it approved in 30 minutes.