A marina has potential to be a great moneymaker for whoever owns one. A marina could very well see a lot of money brought in, particularly during the holiday season. Used as an area to moor private boats and yachts, they are often commonly found on or near beaches in Britain, though can also be found on rivers or lakes. Watersports facilities may also be found close by, significantly increasing the potential for profitability. If you are looking to snap up a marina or watersports facility, our marine finance team can help you to secure the funding you need to do so.
Purchasing a marina is a major investment. Marinas can be found as one part of an enterprise or as an entire facility, teamed with watersports facilities and other activities. It is also common to find marinas owned by yachting clubs, who use their personal marina to store and protect members’ yachts. However, it certainly isn’t uncommon to find privately owned marinas which are open to the public for use. Depending on their location, marinas can be very expensive to purchase. The price will also depend on the facilities that are offered: reputable and successful marinas offer as many facilities as possible to their customers, including refueling facilities, showers for the boaters, washing facilities and dining areas.
Though lenders view the marina sector as having excellent security due to recurring income on waterfront property, there are still potential risks that lenders take into account. There is a strong demand for such freehold waterfront properties, which places upward pressure on purchase prices. This means that lenders generally have to lend a lot more money for the borrower to successfully purchase the property. Strong demand for such properties has also squeezed the market, and it can be more difficult for borrowers to find a prime marina that is available for sale.
We do everything that we can to make your application for marine finance successful. First and foremost, we will meet with you to discuss your financial requirements and the financial merits of your proposed purchase. Once your financial strengths and borrowing power are known, you will have a borrowing profile that makes you more attractive to potential lenders. When it comes to finding lenders, we scour the entirety of the market to find the best possible deal for you. We can secure an in-principle offer from a number of lenders and can optimise your chances of success as long as you have a good credit history, experience within the marine or allied sector, commercial history or previous businesses trading accounts and one of our comprehensive debt proposals.
If you don’t receive a written acceptance of your loan, you don’t pay us a single penny. We commit ourselves to a thorough process, dedicated to securing you the marine funding required to purchase your own facility. You will find our services invaluable for securing marine loans and we will do everything that we can to make your application as successful as possible.