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Mortgage for a houseboat
Superherogirl
Posts: 31 Forumite
I am interested in buying a houseboat. It comes with a permanent mooring, parking space and a little garden. Not sure which if any lenders would consider this as a mortgage proposition.
Any help grateful:j
Any help grateful:j
0
Comments
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You need to look for marine mortgages. If you buy a couple of narrow boat or similar magazines, there are normally adverts for specialist brokers, and you'll also get some good info about living aboard. Looked into it myself a fee years ago.Unless it is damaged or discontinued - ignore any discount of over 25%0
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Not possible to get a mortgage to buy a boat, but you can get a secured loan from a specialist broker, although duration will be shorter and interest rate will be significantly higher. You wont get a secured loan for a sea going boat.
Is the mooring a freehold? If so that might be mortgagable0 -
Brilliant, thank you. I will check on freehold of mooring (i think it is) and a marine mortgage. It's a cheap boat so hopefully the loan may be higher but still more affordable than buying a regular property in London.0
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I'd suggest joining the Residential Boat Owners Association, lots of great advice avaialble, http://www.rboa.org.uk/0
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