Boat and Marine Finance
29 November 2004 - 16:38
To offer its entire client base a service that is second to none, TheYachtMarket.com has teamed up with an independent finance and asset brokerage offering specialist services to business and private clients.
With over 25 years combined experience our team of specialist advisors are able to offer advice and information on all aspects of marine funding and purchase. Over time they have developed and refined the products they can offer to suit the ever-changing Boat and Marine financial market place, thus enabling us to offer the most competitive packages available.
Working in partnership with the marine departments of some of the worlds largest finance houses such as Barclays, Ing and Bank of Scotland gives our clients the financial security and peace of mind they require.
We are able to offer a variety of repayment schedules from our lenders to suit the clients requirements and needs. The advance is secured against the asset rather than on a property or home, again giving our clients the financial flexibility they require and leave credit lines open with other lenders if required.
With marine product being such a diverse and individual product we would prefer the client to source there own boat then contact us to arrange the funding. We are able to arrange funding advances on most marine product costing from £15000 and up to 10 years old.
With the large sums of money involved we would recommend using a reputable supplier and if possible get fixed costing for all extras etc before entering into an agreement with them. Other things that you may need to consider are mooring, insurance, running costs and general upkeep which will all add to your yearly outgoings.
Arranging a marine advance is relatively easy, with a decision from the funding company normally given to you within 24 hours. Once you have decided on the boat that you wish to purchase the next steps are listed below;
1. Initial Quotation in the UK - Please call or email us with the full details of the boat including price specification etc and we will provide you with an initial quotation based on your preferred repayment profile.
2. Proposal On acceptance of our quotation you will need to provide us with basic information about yourself. This will include your current home address, employment details, bank details and a boat specification from your chosen supplier. We will then supply this information to the finance companies underwriting department for approval.
3. Decision The finance company will provide us with an underwriting decision based on your personal circumstances and the information you provided. The finance company may require additional information from you, we will advise if this is necessary. A decision is normally given within 24 hours; however, in certain circumstances it may take longer.
4. Documents All the documentation for your agreement will be sent directly to you by the finance company for you to sign. We can arrange for you to come to our office to sign the documentation if you prefer and in some cases this may be a necessity. All signed documentation along with your proofs of identification will then be returned to the finance company for approval.
5. Funds Once the documentation has been approved the funds will be sent to your chosen supplier who will then release your new boat to you. Your first payment will then normally be taken 28 days from the date the funds where released.
This whole process can be done within as little as seven days and our team are always on hand to sort any glitches that may occur or questions that you may have.
E-mail: customerservices@theyachtmarket.com
or
Telephone: +44(0)23 8022 8154
