Fancy a boat or jet ski?
- talk to us about a loan or financing certificate

The boat loan that suits you

We help you apply for a loan or financing certificate for a new or used boat. There are two different boat registers that affect your loan terms, and you get the best loan terms for boats registered in the Norwegian Ordinary Ship Register (NOR). There is a requirement for 20% equity when buying a boat registered in the small boat register/a boat that is not registered in NOR.

Checklist before you buy

  • Avoid impulse purchases, find a boat that suits you

    • Do a needs analysis. Do you need a family boat, do you need beds in the boat, or does a bowrider with space for water skis suit you better?
  • Send us an application for a loan certificate

    • Fill in the form
  • Size – are you an experienced or inexperienced boater?

    • If you are inexperienced you should choose a smaller boat, but not too small. Choose a boat that you master, but with which you can grow.
  • Small enough for storage on a trailer, or do you need a private harbour space?

    • If you live in or near a city, you should join a local boat association and apply for a place to keep the boat.
  • Petrol or diesel?

    • Diesel is cheaper to consume. Petrol engine gives less vibration and is lighter.
  • Inboard or outboard motor?

    • Easier maintenance and cleaning on the outboard, but often less noise with an inboard engine
  • Check that the boat is CE marked

    • The CE mark is visible proof that the boat meets the requirements laid down by the EU directive in terms of health, environment and safety.
  • Always test drive the boat

    • You will then receive confirmation that all equipment, such as engine, heaters, pumps, anchor winch and navigation equipment is as agreed, and whether the boat is stable.
  • Safer to buy well-known brands

    • Well-known and popular boat types often hold up better in price and can be easier to sell again.
  • Born after 1 Jan 1980? Then you must have a boat driver’s license

    • We still recommend everyone who buys a boat to take the boat driving test to increase their knowledge of navigation, sea marks and good seamanship!
  • Download the Consumer Council’s purchase contract

    • This is your security. If you have a watertight contract, you are in a much stronger position in complaints.
  • Be prepared for unexpected expenses

    • Remember that there may be unforeseen problems with your boat,  it can be smart to have a small buffer for unexpected expenses.

    Anders Fagerli and Isabell Kristiansen, Eiendomsfinans Oslo

    Norwegian Ordinary Ship Register

    The Norwegian Ordinary Ship Register (NOR) is a public control system where we can register ship lien bonds that ensure the bank’s legal protection. Boats over seven meters can be registered in NOR, and it is the customer’s responsibility to ensure that the boat is registered. Purchases of newer boats registered in NOR can be fully financed. Read more here


    Registration in the Small Boat Register

    The RS Small Boat Register is run by Redningsselskapet and is a voluntary register for leisure boats. Insurance companies often require registration of these boats.

    Loan type depends on where the boat is registered or is to be registered:

    Boat under 7 metres

    • Loans for newer boats without registered security
    • Up to 80% financing
    • Loan amount up to NOK 350,000
    • Up to 7 years of repayment
    • The boat must be comprehensively insured and registered in the Small Boat Register RS

    Boat over 7 metres

    • Up to 100% financing, financing rate according to individual assessment
    • Up to 10 years of repayment
    • 1st priority ship bond in the Norwegian Ordinary Ship Register (NOR)
    • The deed must be registered with the buyer before payment
    • No requirement for simultaneity (you can borrow with security in the boat later)
    • 3rd man’s interest to the bank
    • Security in trading as the bank fulfills any encumbrances and pays the remainder to the seller

    Loan examples:

    Boat loan without security in the boat: nom. interest rate 7.95%
    Price example: Effective interest rate 9.21%, NOK 350,000 over 7 years, cost NOK 120.643, total NOK 470.643

    Boat loan with security in the boat: nom. interest from 5.65%
    Price example: Effective interest 6.42%, NOK 500,000 over 10 years, cost NOK 174.395, total NOK 674.395

    Would you like to speak to an advisor? Then you can call us or visit one of our offices.