Marine Mortgage for a Private Individual

Posted On: 18 October 2019 Industry: Marine

Finance Need: The Customer was a longstanding client of our Introducer and wanted to purchase a £260,000 high-end motor cruiser abroad which was for sale via an international Boat Broker. The boat was to replace a finance commitment they had on a classic car which had recently been settled and they turned to our Introducer to arrange a marine mortgage for them.

 

What Arkle Did: Being an Asset Finance Broker, marine finance was not the Introducer's strong suit. Understanding the complexities and the potential damage a wrong move could make, they asked the Arkle Marine Team to take over all the negotiations, registrations and legal dealings with the Customer in exchange for an agreed commission for the introduction.

Arkle approved the new boat and worked with the Customer to find a finance profile to suit them. Arkle dealt with both the Customer and Boat Broker to collate all paperwork required through to completion, paying the Introducer their commission upon payout.

 

The Finance Solution: The Customer had a budget in mind for monthly repayments which Arkle was able to accommodate by incorporating a balloon payment at the end of a seven-year term on a Marine Mortgage.

 

Arkle Comment: By running the deal on the Introducing Broker’s behalf, we used our knowledge and experience within the industry to ensure a smooth and efficient transaction for both the Broker and the Customer.

You guys have been amazing and [we] really appreciate all your efforts

You guys have been amazing and [we] really appreciate all your efforts.

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