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ihatework

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This is getting ridiculous. Your post originally said:

"You would, it is still called the 'Small Ships Register' which in in two sections (as I'm sure you know). Part 1 is proof of legal ownership' and lists any mortgages etc on the vessel. Part 3 is just proof of boat's Nationality."

The Small Ships Register (SSR) is not in two sections, and your own link confirms that. Part 1 Registry is NOT called Small Ship Registry (SSR), which is a cheap form of registry to show the ship's nationality if necessary in a foreign port, and in reference to the original query about mortgage information you would not get a marine mortgage if all you have is SSR.

 

Hopefully ihatework will have got the point by now that a SSR document tells him nothing of interest about mortgages (or anything much else)

 

Tam

 

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4 minutes ago, Tam & Di said:

This is getting ridiculous. Your post originally said:

"You would, it is still called the 'Small Ships Register' which in in two sections (as I'm sure you know). Part 1 is proof of legal ownership' and lists any mortgages etc on the vessel. Part 3 is just proof of boat's Nationality."

The Small Ships Register (SSR) is not in two sections, and your own link confirms that. Part 1 Registry is NOT called Small Ship Registry (SSR), which is a cheap form of registry to show the ship's nationality if necessary in a foreign port, and in reference to the original query about mortgage information you would not get a marine mortgage if all you have is SSR.

 

Hopefully ihatework will have got the point by now that a SSR document tells him nothing of interest about mortgages (or anything much else)

 

Tam

 

It is .

 

I am agreeing with you

Which is why I edited post #22 within seconds of posting - ( you read and copied it before my edit) to read :

 

Part 1 is a 'proof of legal ownership' and lists any mortgages etc on the vessel.

Part 3 is just proof of boat's Nationality.

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A Marine Morgage means that the vessel itself is held as security against default of repayment, rather than any other asset you might have. If you are able to get a Mortgage on that basis I'm sure any lender would require the vessel to be on the full Part 1 Register, as that does offer proof of ownership and the mortgage details will be recorded on the official registration documents. You can get SSR registry simply by paying your £35 and saying "Scout's honour - it's my boat". Full Part 1 Registry is rather more long winded and involves having the ship officially measured by a Surveyor apart from anything else.

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55 minutes ago, ihatework said:

I've pre-arranged a marine mortgage so we'll see what they require in the way of registration etc

That interesting, there have been reports that no one is still offering marine mortgages (except for big boats)

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On 08/05/2019 at 19:14, ihatework said:

Hasn't been easy and rate is high but only going to be for a short time hopefully 

Who are you using, if you don't mind me asking? 

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On 08/05/2019 at 19:02, Alan de Enfield said:

That interesting, there have been reports that no one is still offering marine mortgages (except for big boats)

Roy Scot Larch ceased to offer them a year or two ago, but I think that at least two other companies stepped into the breach last year. They were probably reported in these pages, though I can't remember where.

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11 minutes ago, Athy said:

Roy Scot Larch ceased to offer them a year or two ago, but I think that at least two other companies stepped into the breach last year. They were probably reported in these pages, though I can't remember where.

Arkle, and promarine spring to mind. Very high deposit percentage required, and chokingly high interest rates. They are the reason I don't have a boat. 

 

They "have to" take into account my current rent of 865 a month, despite the fact that having a live aboard I wouldn't be paying it anymore...

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Thanks They had it built so all receipts should be available so that’s good advice cuthound. The only thing I don’t understand is how to check there’s no outstanding mortgage on it

Thanks for the water tip. Water seems fine and it has a filter tap fitted as well for drinking 

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2 minutes ago, ihatework said:

The only thing I don’t understand is how to check there’s no outstanding mortgage on it

 

This has been covered loads of times on here in the many threads on this exact subject.

 

Firstly, most boats are bought with a personal loan when finance is required, and and the loan is unconnected to the boat so there is no problem such a boat. Secondly, genuine marine mortgages where the boat is pledged as security are pretty rare so your chances of buying one accidentally are low. Thirdly, to get a marine mortgage, the boat needs first to be Lloyds Registered (or whatever today's equivalent is) so if you check the register and your boat is not registered, then it can't have a mortgage on it. So keep an eye open in amongst the boat paperwork for anything indicating Lloyds Registration. 

 

 

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I bought my boat from a private seller and after doing (most/some) of the checks recommended in this thread plus a survey and own BSS it comes to the really hard bit: handing over the money. Is the seller who they say they are? = Passport.

And is that the name on the last Bill of Sale?

Is there any paperwork such as services, repairs and invoices in that name? How do they want to be paid? = Same name on account as Bill of Sale.

I suggest BACS in multiples of £10000 (don't incur charges) after Bill of Sale is signed and then witnessed. We did this at a Nationwide counter although some advise a private address linked to the seller eg. family member with ID.

 

Our purchase all turned out better than perfect despite us driving back to the canal minus £50,000, with a Bill of Sale but without a boat to match it until we got there. However there are too many tales of sales with far worse outcomes.

Hope it's a good one.🤞

Edited by nikvah
prose

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