This is the most extraordinary site.
Saturday, May 15, 2010
3,2,1...
Engine, Windows, and ballast were ordered yesterday!
Now to start saving for the mooring fee...
Sunday, May 9, 2010
Saturday, May 8, 2010
So close!
Easter was defined by phone calls to and from the finance company and the boat builder - things began to get elaborate, for various boring reasons. For a while, the whole project began to lose its sheen a bit. We'd had all the fun of drawing plans and thinking about furnishings and then things got boring and financial.
Eventually, though, we worked out a way that everything could work. Things began to feel exciting and real again today because we saw our boat!
That's it in the foreground. Not the big red one, unfortunately, but the sheets of steel on the floor in front of it. The builder should start bending and welding them into a boat shape in about a week's time!
Tuesday, April 13, 2010
Boat Finance
We said at the beginning that we wanted to share information that was useful. Here goes...
Anybody seeking finance for a boat, and needing to make a number of staged payments (i.e. release the total loan in more than one instalment), to the broker or builder, should be aware that:
1. Finance companies can only make a maximum of 2 staged payments because of the terms of the consumer credit agreement.
2. Most will not be prepared to release any money until the boat is at a 'lined sailaway' stage - i.e. engine, windows, ballast, insulation and wood line-out. Before this stage, they consider it to be too risky an investment.
3. In order to be able to make staged payments, many lenders will insist that you hold a 'BMF' (British Marine Federation') contract. In order to be able to provide this, your builder or broker will need to be a member of the British Marine Federation. Not all are.
Other stuff, like being able to lend up to a maximum of 80% of the value of new boats, or 75% of the value of second-hand boats, was clear from the start, but these points above are a few that were not so clear, so we just thought we'd share them.
Anybody seeking finance for a boat, and needing to make a number of staged payments (i.e. release the total loan in more than one instalment), to the broker or builder, should be aware that:
1. Finance companies can only make a maximum of 2 staged payments because of the terms of the consumer credit agreement.
2. Most will not be prepared to release any money until the boat is at a 'lined sailaway' stage - i.e. engine, windows, ballast, insulation and wood line-out. Before this stage, they consider it to be too risky an investment.
3. In order to be able to make staged payments, many lenders will insist that you hold a 'BMF' (British Marine Federation') contract. In order to be able to provide this, your builder or broker will need to be a member of the British Marine Federation. Not all are.
Other stuff, like being able to lend up to a maximum of 80% of the value of new boats, or 75% of the value of second-hand boats, was clear from the start, but these points above are a few that were not so clear, so we just thought we'd share them.
Friday, April 2, 2010
Bristol
Uh oh...
Simone has been offered a PhD place at Bristol University. This is completely wonderful, but has some serious implications. Watch this space!
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