Securing Your Loan
For most boat purchases your Inland Waterways loan will need to be secured against the boat you purchase.
This will normally take the form of a Chattel Mortgage. For certain residential boat loans, most specifically where the boat does not have any engines such as a purpose-built houseboat or some Dutch barges, we will ask you to sign a Conditional Sale Agreement under which we will own the boat until you have made the required payments.
If the boat is used, evidence of history, value and condition may be required.