Having a boat is a matter of wealthy ness. It appeals to different people in different way. Some people like to go and explore the never lasting see or some want to relax in their boat. But the main reason where everybody gets stuck is finance. Here comes the loan factor. Boat loans are the way by which they can explore the desired of having a boat. There are some features which is really interesting such as:
These loans provides in two forms secured and unsecured. Secured form of loans offer cash amount once you provide security against the loan amount. It can be anything home, car or any valuable assets.
If you are a tenants or non home owners then unsecured form of loans will be right option for you. Even home owners can also apply for this option if they dont want to risk their property.
The amount which you can apply ranges minimum 1000 to maximum 10,000,000 for the time period of 5 to 25 years.
Boat loans offer in fixed as well as variable rate. In fixed rate you will be paying a certain amount of money every month but in flexible rate your interest rate varies according to the market. There are few conditions attached with these loans and that is
You must be citizen of UK.
You should be 18 years old.
You must be earning a good income per month.
A bank account is also necessary.
Applying procedure:
You just need to fill out the online application form which is really easy. You have to provide some simple information in that form and lenders do check the details once you submit the information. After that they allow the loan money in your bank account.