A 50ft narrowboat can be purchased for as little as 20000.

Narrowboat mortgage. Marine Finance can be either a Marine Loan or Marine Mortgage. Lombard offer a Marine Mortgage Calculator. In contrast the average house costs 200000 and unless you are a cash buyer you will.

Houseboat mortgage is the term given to a mortgage specially tailored to suit the purchase of a liveaboard floating home. MEET the couple who have renovated a run-down narrowboat in just five months and are now saving themselves 4800 on. Like many families Jessica Bates 24 and her.

Narrowboats are an ideal option for families and couples looking to invest in an alternative holiday option they can enjoy year after year and by buying yours on finance you can bypass the upfront payment and get out on the water as soon as possible. Ready to use their Marine Mortgage Calculator. For those seeking to get away from it all owning a boat can offer a relaxing and enjoyable holiday.

So for example if you are looking to finance a boat with a valuation of GBP 30000 then. Make a reasoned assumption that interest rates will rise during the mortgage period be sure that you could afford a higher rate. A family were inspired by a Hollywood movie to buy a narrowboat home after struggling to get a mortgage.

There is a wide range of boats available that are suitable for permanent residence with the main division being between static boats and cruisers. That being said understandably that isnt the case for everyone and so financing will need to be sought. Is it possible to get a mortgage of some sort for a narrowboat.

So a marine mortgage is secured on the boat that it has financed in a similar way that a house is. Suppose a very modest 1-bedroomed flat is available at 100000 which can be mortgaged for 90 of purchase price at say 7 pa interest rate over 25 years. You can borrow from Lombard Marine Finance for any period from one year to 14 years from 25000 to 600000 so a dream boat is not far away.