Boat & Marine Finance Calculator
Silver Oak Capital was approached by a successful property developer with Russian wealth links to obtain finance for the purchase of a 30 meter Wally sailing yacht. The yacht was to be purchased second hand and was moored on the Cote d’ Azur. The client would also charter the yacht from time to time.
This borrower was an experienced sailor who had previously owned a much larger motor yacht years earlier. The developer had substantial income which was received on a project by project basis – this presented some challenges in terms of finding a lender who was comfortable with the from an affordability stand point. The client came across Silver Oak Capital after an online yacht finance calculator search revealed Silver Oak Capital as a top yacht finance broker London based.
Problems To Solve
Besides the irregular income of the borrower, he was also a Russian national with his source of wealth originating from commodities dealings in Eastern Europe. We were able to overcome this by arranging 6 months interest cover to be placed on account with the yacht finance lender – which gave them comfort to offer the desired loan amount.
Our long standing relationships in the yacht finance market allowed us to approach the right lender for this client’s unique circumstances and secure the following loan offer:
Yacht Finance Facility £6 million
70% Loan to Value
Fixed Rate 3.5% per annum
Term 60 months
Full quarterly repayments with 20% Balloon
6 Months Interest Deposit to remain on account