Youtube – we have started a channel

Currently just a couple of sailing videos whilst getting the hang of it and making the most of lock down – we will try and add some useful finance content in the near future.

 

Promarine Finance

We are still lending

Boat enquiries have started coming back and we have issued acceptances conditional on the following:

How is lock down affecting you financially?

Completion can only take place once lock down has been lifted unless there are compelling reasons to complete beforehand.

 

Covid 19 – March 24 – remote working

We are now working remotely – hopefully business somewhere near normal in an very abnormal situation.
 
Mainline 01432 347770
 
Email info@marine-finance.org
 
Hopefully back soon – if we all practice social distancing.

Covid 19 update March 18th 2020

All customers concerned about the effect Covid 19 is having on them and their ability to make loan repayments should call us.
 
We are communicating and collaborating with our customers.
 
We are sending a newsletter by email to our customers with more specific information this afternoon.

Crick 2020 Cancelled

Sadley Crick has been cancelled due to the Corona Virus.

Business as usual for Promarine Finance – we are able to work remotely if necessary and hope that by following PHE guidelines we will stay safe and hope everyone else does too.

Keep washing your hands and be mindful.

How much do you know about your new boat?

Another good reason to choose Marine Finance and a reputable broker over other options which may at first seem better value:
 
Our colleague Charlie spoke with a vendor (private sale) this morning who confirmed he had owned the boat for 2 years having bought via the courts due to the previous owner losing it through a fraud. We were were told there is correct paperwork to prove the purchase from the court, but the vendor did not know if the boat was VAT paid.
 
The buyer contacted the builder and the boat is known to them and they confirmed that VAT hasn’t been paid. The boat was infact heavily damaged resulting in a complete hull rebuild, transom replace and new engines and electronics. The current owner purchased from the court for a paltry sum. The repairs may be all fine but is this a risk worth taking and at what price?
 
A personal loan application would not identify any of the above.
 
What is the value of choosing to work with Promarine Finance?

 

Christmas Party, Italian Job, Lymington Yacht Haven

 

 

 

 

 

 

 

 

Dancing, Prosecco, Party Food and Fresh Air – whilst staying on board The Italian Job

Our view of Southampton Boat Show 2019

 

2019 marked the third year for ProMarine Finance Ltd to exhibit at the Southampton Boatshow, being the second time in Mayflower Park between Ocean Hall and the Marina. Having seen Marine Mortgage lending grow in certain sectors through the year, we found this year’s show had a very different feel and not representative of the past 12 months.

Did the heat keep the visitors away? – well we were told by some with tickets the weather was too good to go to the show!!! At least on the marina there appeared to be a cooling breeze most days – whereas our location was sweltering, causing us in the afternoons to end up squeezing into the back of the stand to get out of the sun!!!

Previously our location was chosen so to be close to other Marine Mortgage lenders, however 2019 saw us as the only finance exhibitor with a stand, meaning we received enquiries for larger boats that didn’t fit into our lending profile. We also didn’t have visitors who were looking to get started in boating, nor did we see many looking for a lower value boat, or a vessel of an older age – all being our typical customer.

So where were the typical smaller boat buyers? – Did the emphasis being driven by British Marine and their Futures Project of selling ‘boating experiences’, which is further emphasised by the show’s main sponsor ‘Borrow a Boat’, mean that our target audience chose not to come?

Our business is growing well, mostly due to the internet, so maybe customers in our market can research all they need from the internet….. We believe this is why other Marine Mortgage providers chose not attend and it could certainly influence our decision to be present in the future.

As always we enjoyed ourselves at the show meeting new, past and present clients, along with the regular boat dealers. The BRBA dinner was a great event at the Grand Café, superb food and generous drinks from Coleman Insurance – always makes for an entertaining journey home on a Brompton Bike!

Makes us wonder if the traditional boat show for attracting boat buyers and selling boats has run its course in the UK – London is no more, On the Water was cancelled and Southampton feels as though it is shrinking. There appear to be plenty of big names in the industry voicing support for the show and their sponsorship, but we are not too sure whether to believe it.