Absolute beginner with a few hypothetical liveaboard questions

[Ben1980]

Hi, this is my first post although I have been reading through the forum and have found it immensely helpful.

 

Just to give you a little background; I have no real experience of narrowboats (just day trips) but have spent a lot of time on the canal as a teenager as I used to row there regularly. I loved going down to the canal on a really crisp winter morning. I am hugely attracted by the idea of living fulltime on a boat. I am currently a student nurse and having been living in student/hospital accommodation which I loathe. It has, however, meant that I am very used to living with very few possessions in a small amount of space. I am very frugal with my use of utilities and am generally a fairly conscientious sort of person.

 

Anyway, a few questions -

 

Realistically, what are the chances of a residential mooring reasonably close to a metropolitan area ? Leeds, Bradford, Lancaster, somewhere along those lines ? I've looked up mooring fees so I have an idea of cost just not how available these are likely to be.

 

Would it be worth putting my name on a waiting list now given that I won't be in a position to buy a boat for a couple of years yet ? If a mooring came up, could I sublet it until I was ready to move there ?

 

While I know that renting out your boat is strictly forbidden, could my cousin buy a share in mine in exchange for the use of it 3 weeks a year as a holiday boat ?

 

How do marine mortgages work ? I've had a look at the websites and seen the interest rates etc. but no indication is given of how they assess people. Is it on the same basis as a regular mortgage ie. 2.5 x your income ?

 

Also, as an entirely separate issue, I've looked at some of the marinas and moorings, both BW and private and it occurs to me to ask why none of them seem to be set up as Housing Associations or Housing Cooperatives ? Surely that would be a very sensible proposal - for residential boatowners to club together and run a marina as an association ?

 

I'm sorry if these are silly questions or have already been answered, I have looked but I may have missed the relevant topics.

 

Ben

[saltysplash]

Hi, this is my first post although I have been reading through the forum and have found it immensely helpful.

 

Just to give you a little background; I have no real experience of narrowboats (just day trips) but have spent a lot of time on the canal as a teenager as I used to row there regularly. I loved going down to the canal on a really crisp winter morning. I am hugely attracted by the idea of living fulltime on a boat. I am currently a student nurse and having been living in student/hospital accommodation which I loathe. It has, however, meant that I am very used to living with very few possessions in a small amount of space. I am very frugal with my use of utilities and am generally a fairly conscientious sort of person.

 

Anyway, a few questions -

 

Realistically, what are the chances of a residential mooring reasonably close to a metropolitan area ? Leeds, Bradford, Lancaster, somewhere along those lines ? I've looked up mooring fees so I have an idea of cost just not how available these are likely to be.

 

Would it be worth putting my name on a waiting list now given that I won't be in a position to buy a boat for a couple of years yet ? If a mooring came up, could I sublet it until I was ready to move there ?

 

While I know that renting out your boat is strictly forbidden, could my cousin buy a share in mine in exchange for the use of it 3 weeks a year as a holiday boat ?

 

How do marine mortgages work ? I've had a look at the websites and seen the interest rates etc. but no indication is given of how they assess people. Is it on the same basis as a regular mortgage ie. 2.5 x your income ?

 

Also, as an entirely separate issue, I've looked at some of the marinas and moorings, both BW and private and it occurs to me to ask why none of them seem to be set up as Housing Associations or Housing Cooperatives ? Surely that would be a very sensible proposal - for residential boatowners to club together and run a marina as an association ?

 

I'm sorry if these are silly questions or have already been answered, I have looked but I may have missed the relevant topics.

 

Ben

 

 

Hi ben and welcome.

 

I think the first and biggest mistake most people make when considering living on board a boat is that it is a cheap option compared to living ashore. It certainly can be if you can genuinely continuously cruise...ie the system and not just a small area. Few folk can accomplish this unless they are retired or work from home. It can also be cheaper if there is no mortgage or finance involved, But when you start to add up mortgage/moorings/licence/fuel/council tax as well as other add ons required by residential moorings then ther aint a great deal of difference, plus...the boat is likely to reduce in value unlike bricks and morter.

 

Most people who liveaboard and make a go of it are those who just simply enjoy the lifestyle. The freedom to up sticks and go for a cruise when they get home after work at the weekend or just simply...living simply....or for some...all the comforts of the land as well. Dont forget, it aint much fun in the winter if the fire goes out during the night or the gas runs out just as youve put the fry bentos in the oven, but then thats all part of growing up and being british

 

Lots of things to consider even before you think of buying or even looking at a residential mooring which at the moment appear as common as frenchman that hates garlic

 

Also, the closer to town, the more expensive the mooring.

 

Good luck. im sure you will some replies from our northwest/east based cousins

[Ben1980]

Thank you for responding !

 

I perhaps didn't make my intentions clear - I am well aware that it is not any cheaper than living on land. However, I have a great fondness for messing about on the canal and enjoy being outside. I hate living up 7 flights of stairs without even a windowbox. Living in a boat is not cheaper than living in a nice flat but it is much cheaper than living in a detached canalside house.

[saltysplash]

Thank you for responding !

 

I perhaps didn't make my intentions clear - I am well aware that it is not any cheaper than living on land. However, I have a great fondness for messing about on the canal and enjoy being outside. I hate living up 7 flights of stairs without even a windowbox. Living in a boat is not cheaper than living in a nice flat but it is much cheaper than living in a detached canalside house.

 

 

In that case your halfway there. next problem is a boat and suitable mooring.

 

Im currently selling my MFV and have a very charming chap who is interested but his first and very first question was, "is the mooring definetly available with the boat" that was his main concern...and thats on the salty bits

 

Good luck in any case....love of the canals and interest in them is a really difficult urge to resist

[dor]

Investigate the possibility of a residential mooring before you go any further. Genuine ones are extremely rare!

[StoneHenge]

Welcome Ben!

 

How are your machanic skills? Being a student nurse, do you use public transport, or do you own a car?

 

Just thinking because living on a boat sounds very romantic, but it is a full time job keeping it nice. Not just the bits and bobs inside, but all the paint work outside, blacking, engine services, and all things metal work. If you have buckets loads of money, you can get people in to do the work, but it will be expensive, so make sure your DIY skills are up to scratch or if you buy a nice looking boat and have no time to maintain it, it won't stay good looking for long.

 

Do get the mooring first. Boats for sale are everywhere so you shouldn't have trouble picking a suitable craft, but a mooring, especially a residential one can be like gold dust, so make sure you get one before hand if you are really serious.

 

If you want exprience other than day trips, you can always go on a boat handlers course. Most are day courses, but it gives you the basics. If it's just you (then maybe someone else later one), then you don't need to get too big a boat which will be handy for handling.

 

Do your sums. As said above by salty, you need to make sure you have covered all the bills and then a few unexpected ones. License fee, council tax, blacking, safety certificate, painting, engine service, fuel, solid fuel if you have a stove, gas costs, all needs totting up.

 

And if you have the bug for the waterways, then you will love it.

 

Good luck with it. I hope you manage to realise that dream.

[Lady Muck]

You need a mooring in order to get a mortgage. Ours is with RoyScotLarch, we found them really flexible, we're self employed and the evidence of our income can be a bit sketchy at times, it can be double one year to what it is another year. Our own bank wouldn't lend us much (as a loan) at all, not enough to get a half decent boat, because we are self employed, they seem to treat us with suspicion! I'm not sure how RSL assess, it's a small company and appears to be on a case-by-case basis. The mortgage is cheap (to us) in that it's a fraction of what our rent used to be, but we are paying mooring and licensing fees now, so it only works out a little bit cheaper than when we rented two rooms. In real terms it's not cheap though, the interest is high on marine mortgages so if you can swap to a bankloan when you've paid enough off that's what I'd advise. We do nearly all the maintenance ourselves though, we've always got our heads in boat books to learn more. You will need a big deposit for a marine mortgage, you cannot take that from a loan (they check), I think our deposit was about £9000 and the boat cost £45,000. Having bought a house before I can say it is far far more complicated a process, theres a lot more paperwork required and even finding a boatyard nearby with a free crane at the same time as a surveyor with a free day can be an absolute headache as everyone seems so permanently busy.

 

Anyway If I were you I would apply for a mortgage now, just to see what the sitaution is and what they can do for you.

 

Don't let anyone tell you it can't be done though. You just have to be very determined and put some time into it. We got a London mooring, a great boat with a lovely hull at a reasonable price, everything we wanted really, took us about 9 months to get there.

 

Anyway, we love it, theres not a day that goes by when we don't tell each other how much we love our boat, it's the best thing we ever decided to do. If you love the canals and boats (we're a little bit obsessed), then there's a good chance you'll love it too. Good luck!

Edited October 8, 2007 by Lady Muck

[kookie]

We used RSL also. We found them very helpful. As Lady Muck said, for us, the most difficult bit was getting a dry dock and a surveyor at the same time. We now have to find a dry dock for a few days to get the hull done. For me, that seems to be the most difficult bit, specially living aboard.

[Ben Harp Narrowboats]

Hi, this is my first post although I have been reading through the forum and have found it immensely helpful.

 

Just to give you a little background; I have no real experience of narrowboats (just day trips) but have spent a lot of time on the canal as a teenager as I used to row there regularly. I loved going down to the canal on a really crisp winter morning. I am hugely attracted by the idea of living fulltime on a boat. I am currently a student nurse and having been living in student/hospital accommodation which I loathe. It has, however, meant that I am very used to living with very few possessions in a small amount of space. I am very frugal with my use of utilities and am generally a fairly conscientious sort of person.

 

Anyway, a few questions -

 

Realistically, what are the chances of a residential mooring reasonably close to a metropolitan area ? Leeds, Bradford, Lancaster, somewhere along those lines ? I've looked up mooring fees so I have an idea of cost just not how available these are likely to be.

 

Would it be worth putting my name on a waiting list now given that I won't be in a position to buy a boat for a couple of years yet ? If a mooring came up, could I sublet it until I was ready to move there ?

 

While I know that renting out your boat is strictly forbidden, could my cousin buy a share in mine in exchange for the use of it 3 weeks a year as a holiday boat ?

 

How do marine mortgages work ? I've had a look at the websites and seen the interest rates etc. but no indication is given of how they assess people. Is it on the same basis as a regular mortgage ie. 2.5 x your income ?

 

Also, as an entirely separate issue, I've looked at some of the marinas and moorings, both BW and private and it occurs to me to ask why none of them seem to be set up as Housing Associations or Housing Cooperatives ? Surely that would be a very sensible proposal - for residential boatowners to club together and run a marina as an association ?

 

I'm sorry if these are silly questions or have already been answered, I have looked but I may have missed the relevant topics.

 

Ben

 

Hi Ben,

 

From my experience the marine mortgages do work the same as a regular but they have more risk and so usually ask for a bigger deposit.

 

Barclays offer a good service and are helpful when explaining the differences to a regular mortgage.

 

Hope this helps if you have not looked into it yet.

 

Kelly