Narrowboat finance options

kiwi1

I'm hoping to be able to sell up and move onto a narrowboat in a little while, but have a logistical problem I'm struggling to resolve in my mind....

I will have to sell the house, to release the money for the deposit.. and as far as I am aware, it is only then, that I will be able to apply for a marine mortgage.

Added to that, is the fact that I can't resign from my current job until the marine finance has been completed (I have another job lined up)... which in the end will mean renting somewhere near where I live now for a few months, until the house sale, and finance application has completed. This is something I'm trying to avoid, because that would mean the kids having to move in the middle of a school year.

I don't know whether I could transfer the equity from the house directly into a marine finance deposit (as with a normal house move??), which might then make it possible to move directly from the house into the boat (assuming I find the right buyer and the right boat etc etc). Is this possible? If it is, then, it's possible that I could give my notice immediately after the sale/purchase has gone through, and commute for three months while I work my notice.

[Deleted User]

i`m sure you have looked into the ramifications of living on a boat,so i suppose that just leaves one question....when are you being sectioned?

mgdavid

woodbine wrote: »

i`m sure you have looked into the ramifications of living on a boat,so i suppose that just leaves one question....when are you being sectioned?

I, and no doubt others, having looked and failed to find the smilie, find your reply stupid and unhelpful.
Living on a houseboat never hurt Richard Branson.:cool:

mynameistallulah

mgdavid wrote: »

I, and no doubt others, having looked and failed to find the smilie, find your reply stupid and unhelpful.
Living on a houseboat never hurt Richard Branson.:cool:

I'm glad you said that, I thought I was missing a joke?

If you do your research and are aware of the limitations, narrow boat living sounds pretty good to me.

iolanthe07

I would love to live in a narrow boat - the problem is that legal permanent moorings are as rare as hen's teeth. I assume the OP has this sorted.

I don't know whether I could transfer the equity from the house directly into a marine finance deposit (as with a normal house move??),

Honestly, the best thing to do is simply ask whoever is arranging the marine mortgage.