Good financial news for the boating market
We like positive news but it can occasionally be hard to find on the waterways – especially the way things have gone in the wider economy over the last eight years.
One of the biggest industries to suffer has, of course, been boat-building. When RoyScot Larch pulled out of marine loans at Crick this year I was a tad concerned – your average bank looks a bit blank when you mention boats so where would those who don’t have a rich old Aunt Maud tucked away in the background find the cash to finance their dreams? Indeed, we’ve been asked this quite a few times recently.
So here’s the good news: two new companies have set up shop to offer marine finance (best not say mortgage), specifically including canal and river boats whether metal or glassfibre (see page 7).
Obviously I’m not a financial advisor (simply saying to people “buy a boat” isn’t a good enough ‘qualification’, apparently) and I don’t know whether the deals they offer will make financial sense to your budget, but the move potentially brings fresh money into the market, which is something all industries need to flourish.
Now that really is welcome news.