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A vessel purchase loan (secured) is designed for UK trading businesses with ownership or prospective ownership of the vessel. Lenders usually review your trading history and ability to service repayments from fishing or landing income, and they often look for a cash contribution or deposit. The vessel is then valued to confirm the security position. This type of secured lending commonly runs around 60 to 120 months for larger acquisitions, with pricing commonly in the region of 6.0% to 11.5% APR depending on LTV, risk, and whether the rate is fixed or variable.

Boat refit & repair loan (secured) supports major maintenance and safety or efficiency upgrades across a season. Eligibility typically relies on sufficient records, such as accounts and a clear refit scope with costings. Lenders also assess affordability based on past landings and realistic projections, and they review security that can include a charge and or vessel related security where feasible. Terms commonly range from 36 to 84 months, with typical secured pricing often in the 7.0% to 12.0% APR band. Decision times can be around 1 to 4 weeks for straightforward projects when documentation is clear.

Refinance secured term loan is for existing borrowers with current debt such as overdrafts, hire purchase, or term loans. You provide a breakdown of what you want to refinance, plus evidence of how the new repayment plan fits your cashflow. Lenders check creditworthiness and validate repayment behaviour, and they confirm acceptable security for their charge. Typical amounts often sit between £50,000 and £1,500,000, depending on outstanding balances and security cover. Terms are commonly 48 to 120 months, with pricing potentially in a secured range around 6.0% to 12.0% APR. Complete reviews often take 2 to 6 weeks because current facilities and settlement impacts must be assessed.