Narrowboats represent an increasingly popular option for those looking to get onto the property ladder…
…With the opportunity to own an asset, rather than pay rent. Often the costs of owning a boat can be less than renting bricks and mortar, leaving you financially better off.
Maybe a change in your circumstances has prompted a desire to live on the water and to live a different type of lifestyle, finding some escape from traditional urban living, even when moored in a major city. Alternatively, you may be looking for a holiday retreat and the opportunity to explore the UK’s incredible canals and waterways. Promarine Finance has more than a decade of experience in helping its customers find affordable ways to finance the purchase of a narrowboat. Whether you are looking to live-aboard, or if you are more of a weekend cruiser, we make no distinction in our underwriting criteria.
We have financed many liveaboard and leisure narrowboats…
…And there are a few areas you need to be mindful of and pay attention to when purchasing a boat. We always insist on a boat survey and a current boat safety certificate. This might sound the obvious thing to do and we think it is but beware of anyone looking to sell you a boat without this critical information.
It’s also really important to be sure the vendor of the boat has good title to sell you the boat. Historically life on the canals has been informal and not all boats have reliable histories to establish who owns the boat and whether they are legally able to sell the boat to you.
These are just a few examples of how Promarine can support you through the finance and purchasing stages of your new narrowboat. Our team will guide you through the entire process, and hopefully save you from issues and complications down the line. If you are buying via a broker then they should be able to help with many of the above queries, but we will be on hand throughout to assist you too.