Mortgage for a boat

So i own a house but after the last year getting fed up with it any one know how easy it is to just sell your house and move and by one how would you get a mortgage if needed and could anyone recommend one if did got a solicitor using same one as did GD Property Solicitors for the sale just need some advice on the getting 

Comments

  • molerat
    molerat Posts: 34,243 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic

    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.





Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 349.8K Banking & Borrowing
  • 252.6K Reduce Debt & Boost Income
  • 453K Spending & Discounts
  • 242.7K Work, Benefits & Business
  • 619.5K Mortgages, Homes & Bills
  • 176.3K Life & Family
  • 255.6K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.