The option to customise the vessel to make it exactly as you desire through the new build process is an appealing one.
A new-build project enables you to take advantage of the latest technology and tailor your boat precisely to your tastes.
Promarine Finance is experienced at working with owners during the boat building process.
There are certain processes that should be followed and actions that should be taken at specific times. We can discuss these milestones with you to ensure issues don’t arise later.
For example, most builders require a build contract that states when and what payment is due during the build phase. We call these stage payments, but they can be called progress payments too. Where stage payments are involved it is important that the build contract states that title to the boat is transferred to you upon payment of the deposit. This gives you some protection should the builder cease trading you have at least got ownership of the part-built vessel.
The build contract will state the stage of the build process when each stage payment is required. We may require you to employ an approved surveyor to confirm the build is meeting the timing stated and is compliant with the Recreational Craft Directive (RCD) and other current legislation.
The first payment to the builder is from you. We will make subsequent payments to the builder as per your build contract and surveyor sign off.
At the end of the build you will have a brand-new boat, signed off by a surveyor and a marine mortgage from ourselves as agreed at the outset.
We personally take you through each step, from application to completion, with attention to detail and on-hand advice when needed.