Cruisers Forum
 


Join CruisersForum Today

Reply
 
Thread Tools Search this Thread Rate Thread Display Modes
Old 12-07-2011, 10:34   #1
Registered User

Join Date: Sep 2010
Posts: 855
Images: 1
Can a Cruising Sailboat Be Used as Collateral ?

Wondering if a bank or other reputable owner would consider a cruising sailboat as collateral for some type of loan?

Any comments would be greatly appreciated.

Regards to all,

G2L
__________________

Gone2long is offline   Reply With Quote
Old 12-07-2011, 10:36   #2
Marine Service Provider
 
edsailing's Avatar

Join Date: Apr 2009
Location: Devon, UK
Boat: Sailing vessels up to 200 tons
Posts: 323
Images: 1
Re: Can a Cruising Sailboat Be Used as Collateral?

Sure, you can get a marine mortgage, usually only a fairly low percentage of value and repayable over a short term, say 10 years.
__________________

__________________
Regards, Ed

Delivering boats for a living - no more!
edsailing is online now   Reply With Quote
Old 12-07-2011, 11:11   #3
Registered User

Join Date: Sep 2010
Posts: 855
Images: 1
Re: Can a Cruising Sailboat Be Used as Collateral?

Quote:
Originally Posted by edsailing View Post
Sure, you can get a marine mortgage, usually only a fairly low percentage of value and repayable over a short term, say 10 years.

Thanks Ed,

The boat in question is in Singapore. I don't yet own it, but one of my considerations in purchasing it is whether or not I could borrow on it. Any idea how things work in Singapore?

Thanks for your help,

G2L
Gone2long is offline   Reply With Quote
Old 12-07-2011, 11:20   #4
Marine Service Provider
 
edsailing's Avatar

Join Date: Apr 2009
Location: Devon, UK
Boat: Sailing vessels up to 200 tons
Posts: 323
Images: 1
Re: Can a Cruising Sailboat Be Used as Collateral?

Google 'marine mortgage'?
__________________
Regards, Ed

Delivering boats for a living - no more!
edsailing is online now   Reply With Quote
Old 12-07-2011, 11:35   #5
Registered User

Join Date: Sep 2010
Posts: 855
Images: 1
Re: Can a Cruising Sailboat Be Used as Collateral?

Quote:
Originally Posted by edsailing View Post
Google 'marine mortgage'?
Yeah, but such inquiries tend to net US-centered responses and lots of advertisements. Got some other lines in the water however, and perhaps I could refine the suggested search to includie "Singapore".

Will give it a shot.

Regards again,

G2L
Gone2long is offline   Reply With Quote
Reply

Tags
cruising, sailboat

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Cruising on $500 per Month . . . goprisko General Sailing Forum 3094 24-03-2012 22:32
For Sale: Sailboat Gear thesparrow Classifieds Archive 26 06-11-2011 22:00
Cruising with Kids itdave5 Europe & Mediterranean 0 11-07-2011 09:43
Sailboat Maintenance Nomad57 Dollars & Cents 17 25-06-2011 07:56



Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -7. The time now is 12:25.


Google+
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2018, vBulletin Solutions, Inc.
Social Knowledge Networks
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2018, vBulletin Solutions, Inc.

ShowCase vBulletin Plugins by Drive Thru Online, Inc.