Boat loan
– talk to us about boat loans or finance certificates
This is how we help you:
Fill in the application form
It only takes a few minutes and is completely
free and non-binding for you.
We talk to the banks
Your advisor will talk to our partners and find the
best solution for you.
Receive a non-binding offer
Once we've landed the solution we
most believe in, we'll contact you for a
no-obligation quote.
The boat loan that suits you
We help you apply for a boat loan or financing certificate for a new or used boat. There are two different boat registries that also affect your loan terms, and the best loan terms are for boats registered in the Norwegian Ordinary Shipping Register (NOR).
However, there is a requirement for 20% equity when buying a boat registered in the small boat register/a boat that is not registered in NOR.
Norwegian Ordinary Ship Register
The Norwegian Ordinary Ship Register (NOR) is a public control body where we can register ship lien bonds that ensure the bank’s legal protection. Boats over seven meters can be registered in NOR, and it is the customer’s responsibility to ensure that the boat is registered. Purchases of newer boats registered in NOR can also be fully financed.
RS Small Boat Register
The RS Småbåtregisteret is run by Redningsselskapet and is a voluntary register for leisure boats. Insurance companies often require registration of these boats.
Checklist before you buy a boat
- Avoid impulse purchases, find a boat that suits you
- Do a needs analysis. Do you need a family boat, do you need berths, or does a bowrider with space for water skis suit you better?
- Send us an application for a loan certificate
- Fill in the application form
- Size – Are you an experienced or novice boater?
- If you are inexperienced you should choose a smaller boat, but not too small. Choose a boat that you master, but with which you can grow.
- Small enough for storage on a trailer, or do you need boat space?
- If you live in or near a city, you should join a local boat association and apply for a place.
- Petrol or diesel?
- Diesel is cheaper to consume. Petrol engine produces less vibration and is lighter.
- Inboard or outboard motor?
- Easier maintenance and cleaning on outboards, often less noise with inboards
- Check that the boat is CE marked
- The CE mark is visible proof that the boat meets the requirements laid down by the EU directive in terms of health, environment and safety.
- Always test drive the boat
- Then you get confirmation that all equipment, such as engine, heaters, pumps, anchor winch and navigation equipment is as agreed, if the boat is stable.
- Safer to buy well-known brands
- Well-known and popular boat types often hold up better in price and can be easier to sell again.
- Born after 1. January 1980? Then you must have a boat driver’s license
- We still recommend everyone who buys a boat to take the boat driving test to increase their knowledge of navigation, sea marks and good seamanship!
- Download the Consumer Council’s purchase contract here
- This is your security. If you have a watertight contract, you are in a much stronger position in complaints.
- Take account of unforeseen expenses
- Remember that unforeseen problems with your boat may arise, it can be smart to have a small buffer for unexpected expenses.
Conditions boat loan
Loan type depends on where the boat is registered or is to be registered:
You can find updated interest rates at any time here: Price list Brage Finans
Boat under 7 meters:
- Loans for newer boats without registered security
- Up to 80% financing
- Loan amount up to NOK 350,000
- Up to 7 years of repayment
- The boat must have comprehensive insurance and be registered in The small boat register RS
Boat over 7 meters:
- Up to 100% financing, financing rate according to individual assessment
- Up to 10 years of repayment
- 1st priority ship bond in the Norwegian Ordinary Ship Register (NOR)
- The deed must be registered with the buyer before payment
- No requirement for simultaneity (you can borrow the boat later)
- 3rd man’s interest to the bank
- Security in trading as the bank fulfills any encumbrances and pays the remainder to the seller
Loan examples boat loan with 35% equity:
- Boat loan without ship bond u/23 feet: NOK 200,000, over 8 years, nominal interest 8.95%, effective interest 10.69%, cost NOK 93,416, a total of NOK 293 416.
- Boat loan with ship deposit o/23 feet: NOK 800,000, over 10 years, nominal interest 7.45%, effective interest 8.03%, cost NOK NOK 355,700 in total. 1 155 700.
This is how we help you:
Fill in the application form
It only takes a few minutes and is completely
free and non-binding for you.
We talk to the banks
Your advisor will talk to our partners and find the
best solution for you.
Receive a non-binding offer
Once we've landed the solution we
most believe in, we'll contact you for a
no-obligation quote.
Free and quick case management
With us, you will be assigned a permanent advisor who will help you throughout. After
a pleasant conversation with you, we map your financial situation.
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