Refinancing

Unlock the value in your boat with marine refinancing

You rely on your boat to take you safely wherever you may choose, and your boat relies on you to keep it in top condition. For many owners, caring for a boat isn’t just maintenance, it’s part of the joy of ownership. Whether you’re planning a major refit, need a new engine, or are preparing for the season with essential upgrades, we can help you release capital from your boat to fund the work without compromising your cash flow.

Boat survey in progress

At Promarine Finance, we offer refinancing options that allow you to borrow against the value of your current vessel. This can be a practical and flexible way to cover the cost of improvements, from mechanical overhauls and essential maintenance upgrades to cosmetic refits and performance enhancements.

The maximum loan-to-value (LTV) available is determined by your vessel and our assessment of the current approximate market value. Finance availability will also depend on factors such as the type of vessel, its current condition, and the nature of the work being carried out. While not always required, in some cases we may ask for a survey or independent assessment to be completed before finance is approved. Any existing finance secured against your vessel will need to be refinanced as part of the new loan.

Reasons many owners refinance:

Whether you’ve owned your boat for years or only recently purchased it, refinancing can be a practical way to make the most of your time on the water without the burden of large upfront costs. Unexpected expenses can arise, and refinancing can help you act quickly to get back afloat and enjoying your boat sooner. It can also support better long-term decisions, such as replacing an ageing engine with a new one, rather than investing in an older or refurbished unit that may lead to further issues (and costs) down the line.

Our experienced team is here to talk you through the process, explain your options clearly, and help you make the right choice for your circumstances. Speak to us today to explore refinancing options, we’re ready to help you get the most out of your boat.