Jump to content

Financing an old boat

Jo Green

By Jo Green
in General Boating

 Share

Featured Posts

Robbo Veteran II

Robbo

Posted
Posted (edited)

It's the same as for most boats, but if a secured loan you'll most likely need a survey (which you should get anyhow for purchasing).

 

If you need less than 25k then a unsecured loan will give you more options to shop around for loans.

Edited by Robbo
Link to comment
Share on other sites
FadeToScarlet Veteran

FadeToScarlet

Posted
Posted

Hello,

 

I was wondering if anyone has had experience of securing finance on an old boat (potentially 100 years old). We have a large deposit which may or may not help.

 

Thanks

There is slightly more to buying an old boat than buying a modern boat.

 

For example, at 100 years old, I'm guessing it's a converted BCN dayboat or "Joey", or Perhaps a converted butty or horseboat These are often wrought iron, rather than steel, and riveted. These can need specialist skills to repair, as not every yard is willing to weld wrought iron.

 

Also, it will cut down on the number of surveyors you can use. The normal ultrasonic thickness testers don't work reliably on wrought iron, because of the internal layers, so the surveyor needs to use more old fashioned methods, like hitting the hull with a ball pein hammer and listening to the echo! Mike Carter and Trevor Whitling are probably the two most spoken-of iron boat surveyors.

 

You may also find that the boat is quite wide. Back when it was built, canals were better maintained, and often boats were built just over 7' wide. Nowadays, several locks have bulged inwards, and modern boats are built to 6'10". If your potential boat has spread with age, or was built wide to start with, you might not be able to get on to some canals, like the Llangollen, or fit through other pinch points.

 

It's worthwhile joining the Historic Narrowboat Club if you're interested in older boats, not only for the research and historical side, but also the expertise which people are very happy to share. Also, a lot of old boats are sold through word of mouth, or advertised only in the club newsletter, so as to be sold to fellow enthusiasts.

 

I'm not trying to put you off- I own an 81 year old iron boat myself- but I just wanted you to be aware that there are additional considerations to buying such an historic thing of beauty, so you can make an informed decision.

Link to comment
Share on other sites
FadeToScarlet Veteran

FadeToScarlet

Posted
Posted

Hello,

 

I was wondering if anyone has had experience of securing finance on an old boat (potentially 100 years old). We have a large deposit which may or may not help.

 

Thanks

There is slightly more to buying an old boat than buying a modern boat.

 

For example, at 100 years old, I'm guessing it's a converted BCN dayboat or "Joey", or Perhaps a converted butty or horseboat These are often wrought iron, rather than steel, and riveted. These can need specialist skills to repair, as not every yard is willing to weld wrought iron.

 

Also, it will cut down on the number of surveyors you can use. The normal ultrasonic thickness testers don't work reliably on wrought iron, because of the internal layers, so the surveyor needs to use more old fashioned methods, like hitting the hull with a ball pein hammer and listening to the echo! Mike Carter and Trevor Whitling are probably the two most spoken-of iron boat surveyors.

 

You may also find that the boat is quite wide. Back when it was built, canals were better maintained, and often boats were built just over 7' wide. Nowadays, several locks have bulged inwards, and modern boats are built to 6'10". If your potential boat has spread with age, or was built wide to start with, you might not be able to get on to some canals, like the Llangollen, or fit through other pinch points.

 

It's worthwhile joining the Historic Narrowboat Club if you're interested in older boats, not only for the research and historical side, but also the expertise which people are very happy to share. Also, a lot of old boats are sold through word of mouth, or advertised only in the club newsletter, so as to be sold to fellow enthusiasts.

 

I'm not trying to put you off- I own an 81 year old iron boat myself- but I just wanted you to be aware that there are additional considerations to buying such an historic thing of beauty, so you can make an informed decision.

Link to comment
Share on other sites
pete harrison Veteran

pete harrison

Posted
Posted

It's worthwhile joining the Historic Narrowboat Club if you're interested in older boats, not only for the research and historical side, but also the expertise which people are very happy to share. Also, a lot of old boats are sold through word of mouth, or advertised only in the club newsletter, so as to be sold to fellow enthusiasts.

Surely it is the Historic Narrow Boat Club, and there are other options available when it comes to getting advice and questions of a 'historical' nature - such as this Forum where there are quite a few knowledgeable members captain.gif

Link to comment
Share on other sites
FadeToScarlet Veteran

FadeToScarlet

Posted
Posted

Surely it is the Historic Narrow Boat Club, and there are other options available when it comes to getting advice and questions of a 'historical' nature - such as this Forum where there are quite a few knowledgeable members captain.gif

Very true, I need to correct my phone's autocorrect, didn't spot that one!

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share
Go to topic listing

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.