Can I Get a Mortgage?

    Yes, but getting a mortgage for a houseboat is different from getting a standard mortgage on a house.

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    Most conventional mortgage lenders will not lend against the vessel itself because a houseboat is generally treated differently from bricks-and-mortar property. However, there are specialist lenders and marine finance providers that may be able to help.

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The main things buyers should know are:

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     - Specialist marine finance may be available – eligibility depends on the vessel, its age, condition, value and the buyer's circumstances.

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    - A larger deposit may be required than with a conventional residential mortgage.

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    - The mooring matters – lenders may want details of the residential mooring and the security or length of the mooring agreement.

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    - A survey or valuation may be required before finance is approved.

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    - Older or unusual vessels can be harder to finance, particularly converted commercial vessels.

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    - Freehold moorings can be different – where land or a freehold interest forms part of the purchase, different lending options may potentially be available.

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    - Some buyers use alternative funding, such as savings, proceeds from a property sale, personal borrowing or other secured finance.

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Can I get a normal residential mortgage?

   Usually, not on the houseboat itself. Buyers should speak to a lender or broker experienced in marine or specialist finance rather than assuming a conventional mortgage will be available.

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Disclaimer

   Finance availability varies according to the vessel, mooring and individual circumstances. Buyers should obtain independent financial advice before committing to a purchase.