What lenders check for approval
Approval depends on your credit history, income and existing commitments, as well as the boat. Lenders want the repayments to be comfortably affordable.
Worked example
£500 a month at 8.5% over 10 years would repay about £40,327.23, with £19,672.77 of interest.
Before you apply
This is an estimate. Lenders make their own decision based on your full circumstances and credit history.
Inputs for the boat loan approval calculator
Monthly payment you can afford
What you could comfortably repay each month after your other outgoings.
Interest rate (per year)
The annual interest rate on your loan. The rate shown is only an example, so enter the rate from your quote.
Term
How many years you'd repay over.
CALCULATOR QUESTIONS
Boat loan approval calculator questions
What affects boat loan approval?
Your credit history, income, existing debts and the boat itself.
How much boat loan could £500 a month get?
At 8.5% over 10 years, about £40,327.23.
Will a bigger deposit help approval?
It can, by reducing the amount you need to borrow.
Is this a guarantee?
No. The lender decides.