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Mortgage for a boat


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Can I get a mortgage to buy a houseboat?
Yes, but not with a conventional mortgage. Traditional mortgage providers won’t lend on floating homes because they can’t be registered with the Land Registry and the owner could, quite literally, just sail off into the sunset with their investment. Instead, you’ll need a marine mortgage, available only through a specialist marine finance company or marine broker. Marine loans typically have shorter repayment terms at around 10 years, require a larger deposit – generally 30% – and have considerably higher interest rates (between 5.9% and 10.4%) than bricks and mortar mortgages.
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