Marine Finance

Whether you require a vessel for pleasure or business, Cera can provide you with a flexible, tailored marine finance solution that suits your needs.

Finance for Pleasure Vessels

Buying a boat is one of the biggest purchases you will ever make. From off-the-shelf solutions to tailored packages, Cera will offer you an exceptional choice of marine finance options. Here are just some of the choices you can discuss with us.

How Cera can help you purchase a boat for pleasure use:

• Variable-rate marine mortgages – at Cera Marine Finance, we offer variable-rate marine mortgages, with security normally on the vessel we are financing. These flexible mortgages allow you to make capital repayments at any time without charge.
• Balanced payment plan – as one of our most popular products, a balanced payment plan normally fixes your monthly repayments for the agreements duration. However, the mortgage period will vary, depending on changes in the base rate. If it increases, the term will lengthen; if it decreases, the term will shorten.
• Balanced payment plan with balloon repayment – a balloon repayment is a final lump sum payment. With this solution, your monthly repayments are lower and fixed for the agreements duration. The agreed balloon payment is payable with the final monthly payment. However, the size of the balloon payment may vary, depending on fluctuations in the base rate. For example if the base rate increases, the balloon payment amount will also rise.

Finance for Commercial Vessels

Cera can provide finance for a wide range of commercial vessels. Our solutions include fixed-rate or fixed-capital repayment mortgages with variable day-to-day interest.

Criteria to qualify for a commercial vessel marine mortgage

• Minimum advance of £250,000
• Minimum deposit of between 25% to 40%
• All commercial vessels must comply with the certification requirements of that vessel type
• Vessel must be fully British registered with agreed Red Ensign territory
• The term is normally 5 to 10 years
• Maximum age at inception depends on asset class

Representative 6.8% APR variable.

Credit is subject to underwriting and the APR applicable to an agreement you enter with us will be based on our underwriting, the duration of the agreement and other features.

Security may be required in the form of a mortgage over the vessel. A personal guarantee and product fees may apply