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's right for 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, 20% equity is required for the purchase of a boat registered in the small boat register/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 mortgage 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. The purchase of newer boats registered in NOR can also be fully financed.
RS Small boat register
RS Småbåtregisteret is run by the Norwegian Lifeboat Association and is a voluntary register for leisure boats. Insurance companies often require registration of these boats.
Checklist before you buy a boat
- Avoid impulse buying, find a boat that’s right for you
- Do a needs analysis. Do you need a family boat, do you need beds, or is a bowrider with space for waterskiing more suitable for you?
- Send us an application for a loan certificate
- Fill in the application form
- Size – are you an experienced or inexperienced boater?
- If you’re inexperienced, choose a smaller boat, but not too small. Choose a boat that you can master, but that you can grow with.
- Small enough for trailer storage or do you need a berth?
- If you live in or near a city, you should join a local boating association and apply for a place.
- Petrol or diesel?
- Diesel is cheaper in terms of consumption. Petrol engines produce less vibration and are lighter.
- Inboard or outboard motor?
- Easier maintenance and cleaning on outboards, often less noise with inboards
- Check that your boat is CE marked
- The CE mark is a visible proof that the boat meets the requirements set out by the EU directive in terms of health, environment and safety.
- Always test drive your boat
- This confirms that all equipment, such as the engine, heaters, pumps, anchor winch and navigation equipment are as agreed, and that the boat is stable.
- Safer to buy well-known brands
- Well-known and popular boat types often retain their value better and can be easier to resell.
- Born after 1 Jan 1980? Then you must have a boating license
- However, we recommend everyone who buys a boat to take the boatmaster 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’re in a much stronger position when it comes to complaints.
- Allow for unforeseen expenses
- Remember that there may be unforeseen problems with your boat, so it can be smart to have a small buffer for unexpected expenses.
Conditions boat loan
The type of loan depends on where the boat is registered or will be registered:
Boat under 7 meters:
- Loans for newer boats without registered security
- Up to 80% financing
- Up to 10 years repayment
- The boat must be comprehensively insured and registered in the Small Boat Register RS
Boat over 7 meters:
- Up to 100% financing, degree of financing according to individual assessment
- Up to 10 years repayment
- 1st priority ship mortgage bond in the Norwegian Ordinary Ship Register (NOR)
- Deed must be registered to the buyer before payment
- No requirement for simultaneity (you can borrow on the boat later)
- 3rd man’s interest to the bank
- Security in the transaction in that the bank discharges any encumbrances and pays the rest to the seller
Loan examples boat loans with 35% equity:
- Boat loan without ship mortgage u/23 ft: NOK 450,000, o/10 years, floating nominal interest rate 8.55% / effective interest rate 9.46%, equity NOK 242,308, cost NOK 236,095, total NOK 686,095. Nominal interest rate from 8.55%.
- Boat loan with ship mortgage o/23 feet: Effective interest rate 8.06%, SEK 500,000 over 10 years, cost SEK 222,286, total SEK 722,286. Nominal interest rate from 7.15%.
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 fast case management
With us, you will be assigned a dedicated advisor who will help you every step of the way. After
a pleasant conversation with you, we map out your financial situation.
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