The Promarine Finance team have recently been working with a valued customer who wanted to achieve his dream, by changing his boat to move from inland canals to touring the British coastline. The customer had spotted his ideal boat, but needed to sell his existing boat first – or so he thought.
To help customers in similar situations, we have come up with a solution to provide short term marine finance – ‘Bridging Finance’ for boats that are interest only.
We gave our customer a loan for their new boat and a separate bridging loan secured on both boats – with the view to settle once his existing boat sells.
This allowed him to get the boat of his dreams and win it against a cash buyer because of the bridging facility.
Have you negotiated a spectacularly good deal for a boat that you just cannot walk away from, but are still waiting to sell your current boat?
You don’t need to lose the boat!
Speak to our team – we can agree a monthly interest payment for a set term and the full amount is repaid once your funds are available. If the term needs to extend, then the deal rolls forward for a set period.
Our delighted customer is now planning for his tour of the British coastline and we were really pleased to help.