Boat Mortgage Calculator
Calculate your boat loan or marine mortgage repayments. Estimate monthly costs, interest, and total finance for buying a new or used boat in the UK.
Boat Finance Details
Enter the purchase price, deposit, and loan terms to calculate your monthly marine repayments
Total purchase price of the new or used vessel.
Upfront cash deposit (typically 10-20% for boats).
Length of the marine finance agreement (usually 5-15 years).
Representative APR or fixed rate for the boat loan.
Estimated ongoing monthly costs to keep the boat afloat.
Loan Repayment Results
Estimated monthly costs and total finance breakdown
Enter the boat price and finance details above, then click Calculate Repayments to see your monthly marine loan costs.
UK Boat Finance Benchmarks
Understanding typical lender criteria helps you set realistic expectations when applying for marine finance in the UK.
| Boat Finance Metric | Typical Range | Context / Details |
|---|---|---|
| New Boat Interest Rate | 4.9% – 7.9% | Secured marine loans for brand new vessels. |
| Used Boat Interest Rate | 6.9% – 9.9% | Higher rates due to depreciation risk of older vessels. |
| Typical Loan Term | 5 – 15 years | Up to 20 years for high-value new yachts. |
| Minimum Deposit | 10% – 20% | 10% for new, 20%+ often required for used boats. |
| Maximum Boat Age | 20 – 25 years | Lenders require the loan to end before the boat reaches this age. |
Boat Mortgage & Finance FAQ
Everything you need to know about securing marine finance and calculating boat loan repayments in the UK.
While not technically a “mortgage” since boats are movable assets, you can get a “marine loan” or “boat finance” which works similarly. These are typically secured loans where the boat itself acts as collateral, allowing for larger borrowing amounts and longer terms compared to unsecured personal loans.
Boat loan terms in the UK typically range from 5 to 15 years. For high-value new yachts, some specialist marine lenders may offer terms up to 20 years. The term is often restricted by the age of the boat; lenders usually require the loan to be fully repaid before the boat reaches 20 or 25 years old.
Yes, most marine lenders require a deposit. For a new boat, the deposit is typically around 10% to 15% of the purchase price. For a used boat, lenders often require a higher deposit of 20% or more to mitigate the risk of the vessel’s depreciation.
Absolutely. Lenders are very strict about the age of the boat. They will usually assess the boat’s age at the end of the loan term. If a lender requires the boat to be no older than 25 years when the loan finishes, and you want a 10-year term, the boat you are buying must currently be 15 years old or newer.
A boat loan (marine finance) is typically a secured loan where the boat acts as collateral, meaning you can borrow larger amounts (e.g., £50,000+) over longer terms (up to 15-20 years) at potentially lower rates. A personal loan is unsecured, usually capped at £25,000, with shorter terms (up to 7 years), but you don’t risk losing the boat if you default.