Boat Sales

Marina & Services

Val Wyatt Marine // Buying Advice

Buying Advice

If you are new to boating, or like the peace of the Thames combined with old-fashioned service where the client counts then our marina is specifi cally designed for you. With our rare capability of being both the on site broker and the marina operator we are able to offer you assistance, in every maner of purchasing your new boat. A trial run can even be arranged before you buy so you can prove to yourself you can cope! However as most of our used craft are kept ashore a full inspection and discussion on design requirement is often more fruitful in your decision making process.

Although being based on the Thames our Brokerage division has built a reputable name in service over the last 20 years under the watchful eyes of Alec Baylis & Guy Girling. We not only market River and classic craft but many larger cruisers come and go through our hands, arriving by road and departing again without ever being designed for inland use. So if you have a craft to sell or are considering a purchase we would be pleased to assist if customer service is what you are looking for, no matter where your boat is now or where you plan to be in the future Val Wyatt marine can assist!

Choosing your style of boating is the key: There is now such a large variety of boats available that the inexperienced boater is at a disadvantage when it comes to making a choice. Do take advice, and consider very carefully just what 'style' of boating suits you best. What size do you need, how many people do you want space for, how and when will she be used, where will you keep her? Smaller boats can be trailed behind a car, but launching and recovery can be quite a business. How much can you afford -not just to buy a boat, but to run and maintain her too? Whatever their size, sea-going motorboats fall into two basic types: displacement and planing.

Displacement boats have hulls, which are pushed through the water by relatively low powered (inexpensive) engines: they are roomy but slow and, in general terms, are more seaworthy. Planing boats (like sports boats) have hulls shaped so that they skim over the surface once a certain speed is reached, requiring powerful and costly machinery; generally providing less accommodation but a faster styling. The main rule however is not to allow your head to rule your requirements and always understand that the prettiest looking boat is not always the most suitable for your location.

Most boats found on the UK's waters fall into three distinct categories

Survey

Please contact us for the latest comprehensive listings of currently available new and secondhand craft.

Do not be afraid to ask questions, we are delighted to help and advise on any boating matters. If you are getting a new boat, choose a reputable builder, preferably a member of the British Marine Federation, or Hiswa in The Netherlands both of which have a published code of practice for the construction of small craft. An expert should examine a second hand boat before you buy, and for more substantial boats, a professional surveyor should do this work. A list of surveyors can be provided on request. We recommend that you employ a qualified marine surveyor to inspect any pre-owned boat that you wish to buy. If you decide to go ahead, surveys cost from £100 to £500 depending upon what you ask the surveyor to inspect The craning, cleaning and re-launching to give the surveyor access to inspect the underwater hull, costs about £200 for a 25ft boat.

The hassle free way to purchase a used boat

Finance

We can help arrange Marine Finance at competitive rates over periods up to 10 or 15 years with many leading marine fi nance companies. You can generally borrow up to 80% of the sale price of a new or secondhand boat. We recommend Lombard Marine Finance (call 02380 242171 or visit www.lombardmarine.co.uk). Below we list some examples of Marine finance Marine Loan - Even spread, variable rate.

This loan is for advances of up to £25,000. It is simple and quick to arrange and no security is required. Moreover, British Registration of the vessel is not mandatory. You could borrow 100% of the total price with a repayment period of up to 10 years. Marine Mortgage - Even spread, variable rate.

Marine Mortgages are secured on the vessel and you would normally pay a 20% deposit. Payments can be spread over 10 years, or up to 15 years in certain circumstances. Funding by equity release We can also arrange the funding of your boat by Equity release whereby the added value you possibly have in property can be used to secure a loan for the purchase of your boat, This is often the cheapest way to fi nance and can be spread over many more years, Please see adverts in this publication for more details.

How it works - variable rates An Even Spread payment plan enables you to have a loan with interest rates linked to Finance House Base Rates (FHBR) and charged on the day-to-day outstanding balance. Your payments, however, will remain fi xed and known for the whole term. This is achieved by assuming that FHBR will remain at the rate agreed at inception. In reality it will vary during the loan period- this is taken care of by simply extending or reducing the repayment period to compensate for any variance. There are no penalties for additional payments of capital, which will shorten the repayment period and save you interest. There is no penalty for settlement in full (I.e. if you sell the boat and repay the loan) unless this occurs during the fi rst six months.

Registration

The Finance Company will register a charge on the vessel as their security if a marine mortgage is used; it will therefore need to be British Registered. The registration costs are your responsibility but we will be pleased to advise on registration procedures, insurance and valuation. You must comprehensively insure boats with an approved company. Survey for your Boat The Finance Company may insist that a qualifi ed professional surveys the boat you are buying. The survey costs will be your responsibility.

Insurance

Cost generally depends upon berth location and boat value. As a guide, a £15,000 river cruiser based at Walton Marina would cost about £90 p.a. A £25,000 offshore cruiser based in a coastal marina would cost about £245. Please "Contact us" for a quotation.

About our advised insurance contact
Haven Knox-Johnston
11 Tower View,
King's Hill,
West Malling,
Kent ME19 4UY
Great Britain
enquiries@havenkj.co.uk
Tel: 01732 223 600
Fax: 01732 223 601

Haven Knox-Johnston is a trading name of Amlin Underwriting Services Limited and part of the Amlin Group. Authorised and regulated by the Financial Services Authority. Amlin plc was created in 1998 following the merger of Angerstein Underwriting Trust plc and the Murray Lawrence Group. All of Amlin's underwriting is now conducted through Syndicate 2001, which has a capacity in 2005 of £850 million and is one of the largest operations in the Lloyd's market. It comprises of four divisions:

Haven Knox-Johnston provides a full underwriting service including quotations, documentation, mid term amendments and claims as well as providing the necessary knowledge and advice required for this specialised branch of personal lines insurance.

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