BS: Narrowboat mortgage/long term rent

Subject: BS: Narrowboat mortgage/long term rent
From: Chris Green
Date: 23 Oct 04 - 11:54 AM

I've been thinking of moving onto a boat for some time now, but sadly don't have 40 grand in readies! Is there such a thing as narrowbaot mortgages or, faling that, does the option exist anywhere to rent on a monthly basis?

All advice greatly appreciated!

Thanks

Chris

Subject: RE: BS: Narrowboat mortgage/long term rent
From: John MacKenzie
Date: 23 Oct 04 - 12:29 PM

You can get a marine mortgage, rates are usually higher than bricks and mortar, but if that's what you want you won't mind. I lived on a boat on the Thames for about 10 years, and enjoyed it greatly, but be aware that guitars etc. don't like it; too damp.
Giok

Subject: RE: BS: Narrowboat mortgage/long term rent
From: Blowzabella
Date: 23 Oct 04 - 12:30 PM

I think there is a special mortgage-type loan you can get, Chris - I'm not a boater myself, but occasionally get a copy of those Canal Boat magazines (lived by the canal until last year, so had an interest) - I've seen stuff in there, advising how to go about it.

I know there are lots of restrictions about 'living' on board. You either have to investigate very thoroughly and follow to the letter - or investigate very carefully, then be very 'canny' - keep moving!

Subject: RE: BS: Narrowboat mortgage/long term rent
From: John MacKenzie
Date: 23 Oct 04 - 12:44 PM


Try this site
Giok

Subject: RE: BS: Narrowboat mortgage/long term rent
From: Sorcha
Date: 23 Oct 04 - 01:19 PM

Mudcatter fiddler lives on one. Try PMing him.

Subject: RE: BS: Narrowboat mortgage/long term rent
From: Chris Green
Date: 23 Oct 04 - 01:35 PM

Thanks guys! Blowzabella - can you remember the name of the magazine you're talking about, please? Sound like the very sort of thing I'm looking for!

Subject: RE: BS: Narrowboat mortgage/long term rent
From: ossonflags
Date: 24 Oct 04 - 03:56 AM

this might help

Subject: RE: BS: Narrowboat mortgage/long term rent
From: ossonflags
Date: 24 Oct 04 - 04:00 AM

Or this;

http://www.penninewaterways.co.uk/links/

Subject: RE: BS: Narrowboat mortgage/long term rent
From: Blowzabella
Date: 24 Oct 04 - 05:34 AM

Hello again, Chris - there are several different mags - one possibly called Narrow Boat or something similar. I would suggest getting someone in your local WH Smiths to look up on their computer index of mags, you should find quite a few. Or - have a look in a newsagents situated by a canal marina, where they are likely to stock such mags (that's how I came across them - our Spar shop gets them in cos we're by the canal).

Blowz

Subject: RE: BS: Narrowboat mortgage/long term rent
From: fiddler
Date: 24 Oct 04 - 06:38 AM

All the canal mags contain infom on Loans / Mortgages

find Collidge and Partners they definitely do it.

Fortunately I sold my house and spent the profits on the boat.

B4 You do it make sure you are right it is a bit of a one way street and I have met a few who have regretted it! You're not buying an appreciating asset like a house.

RBOA (Residentail Boat Owners Association) will be happy to talk to you and there is a very good IWA (Inland Waterways Association) publication called (I think) living afloat.

If you've doen all that welcome aboard look forward to meeting you at a folk / canal fest or even just on teh waterways. I think its a brilliant life I just need to give up work now and have time to enjy the life.

Andy

Subject: RE: BS: Narrowboat mortgage/long term rent
From: AggieD
Date: 24 Oct 04 - 08:00 AM

You can apply for a marine mortgage through Barclays Marine Finance as well as Collidge & Partners., Barclays number is 0800 371951, Collidge is 01843 295925. We found them very helpful.

Please do your homework before moving permanently onto the water, the lifestyle is very different, and make sure that you know all about licencing, certificates of conformity etc. before touching a 2nd hand boat.

Hope you find something.

Good Luck

Subject: RE: BS: Narrowboat mortgage/long term rent
From: John MacKenzie
Date: 24 Oct 04 - 08:52 AM

Get an 'out of water' survey which can be expensive, it's charged on a per foot basis. Check on the security or otherwise of the moorings, also check whether it is OK to 'live aboard' Remember you have no security on moorings, and I have known Thames Conservancy to declare that a mooring that had been used for dozens of years was no longer suitable, and the owner had to move his boat, and he could not appeal that decision. There are lots of pitfalls, so do your research, especially if you intend to borrow to finance the move, however a reputable mortgage company will insist you do all these things. Once you've jumped through all the hoops, and bought a boat, you'll be glad you did.
Giok

Subject: RE: BS: Narrowboat mortgage/long term rent
From: Chris Green
Date: 24 Oct 04 - 09:07 AM

Thanks again guys! I'm not looking at moving right away - probably March/April next year - but everyone I've spoken to has said pretty much what you've said ie - it can be a great life, but it's something you need to go into very carefully before making the final decision! However, you're encouragement, support and advice has pushed me a little further down the road (or, indeed, the cut!)

Subject: RE: BS: Narrowboat mortgage/long term rent
From: Bobert
Date: 24 Oct 04 - 09:13 AM

I'm not sure how it works in the UK but here in the States you can sometimes buy property thru "owner finacing".

Good luck and be sure to hook up with Greg Stevens. He knows a lot about boat living...

Bobert

Subject: RE: BS: Narrowboat mortgage/long term rent
From: Mr Red
Date: 24 Oct 04 - 11:31 AM

Go and speak to Derek & Mary of the Banbury FC and FF. They love living on a narrowboat - you can get their e-mail from my site cresby.com

Subject: RE: BS: Narrowboat mortgage/long term rent
From: fiddler
Date: 24 Oct 04 - 11:31 AM

I think the last word of advice is bookmark this thread, I am sure we'd all be prespared to give you 53 different answers to any question you have now or in the future.

Andy

BTW what neck of the Country ar eyou in?

Also Go and pose NOW as a buyer at a number of Brokerages - get a feel for space and layout. Most Brokerages can also offer some sound advice too! Apart form wanting to selel you a boat in this game as against house buying a reputation is important.

Whilton (Nr Daventry) and Braunston (Grand Union Again) are both very good.

Andy Again

Subject: RE: BS: Narrowboat mortgage/long term rent
From: Chris Green
Date: 24 Oct 04 - 11:37 AM

I'm based at the moment in Coventry - which is a big factor in wanting to move onto a boat! Anywhere within 20 or so miles of Coventry would suit me for commuting to work purposes.

Subject: RE: BS: Narrowboat mortgage/long term rent
From: fiddler
Date: 24 Oct 04 - 07:14 PM

In the right place to go looking!

I am sometimes in or near Coventry.

PM me a contact and we can meet up if you want.

Andy

Subject: RE: BS: Narrowboat mortgage/long term rent
From: GUEST,Mingulay
Date: 25 Oct 04 - 04:04 AM

Subject: RE: BS: Narrowboat mortgage/long term rent
From: GUEST,Mingulay
Date: 25 Oct 04 - 04:31 AM

Having finger trouble this morning, must take more water with it!

Seems to be good advice above, the main thing needed before you contemplate living afloat is a mooring unless you want to be continually cruising. Fine if this is want you want, but you will need to arrange somewhere to send your mail, boaty paperwork etc., etc. Mobile phones make other communication easier.

Been afloat now since 1989 and quite like it.

Subject: RE: BS: Narrowboat mortgage/long term rent
From: GUEST,Fullerton
Date: 25 Oct 04 - 05:20 AM

If you get a mortgage for a house it will probably go up in value during the time you live in it.

Your Narrowboat will probably go down in value. Rust never sleeps.

When I lived on a boat it was always cheaper to buy a boat at the end of a season rather than at the beginning of it.

Some boatyards have boats which have been "seized" because there owners have not paid mooring fees. These boats often change hands for peanuts. ( I once paid 37p for a boat!! I was offered other boats for free as long as I just paid the mooring fees )

Subject: RE: BS: Narrowboat mortgage/long term rent
From: Dave Bryant
Date: 25 Oct 04 - 06:02 AM

I agree with Mingulay, it's much easier to find a boat than a good residential mooring. Do you have any specific waterway in mind ? - different authorities (British Waterways, Environment Agency, National Trust, etc) have varying rules and regulations regarding residential boat ownership and license fees can vary greatly. A cheap mooring might have security problems and it may be quite a journey to get water, gas or even more important a (loo) pump-out.

There are many boaters who try and keep on the move, but this can be quite time (and diesel) consuming, and obviously tends to add more wear and tear to he boat and engine. During the winter, there are usually stoppages for waterway maintenance and you might find yorself stranded somewhere for quite a time.

Another thing to check is that the boat has a valid safety certificate. This is needs to be renewed every four years and covers things like the Gas (and Ventilation) system, Fuel System, Electrical Installation, Fire exits and Extinguishers. Without one a residential or cruising license will not be issued by most authorities.

Talk to boaters - there are lots of folkies living on the waterways, before you decide that this is the life for you.

If you have an active local branch of the IWA, why not join and go to some of the meetings - it can sometimes be a good way of hearing about boats/moorings which are available and also getting info about what to avoid.

Subject: RE: BS: Narrowboat mortgage/long term rent
From: GUEST,Mingulay
Date: 25 Oct 04 - 06:36 AM

Wise words Dave, and ones to be heeded by any potential boater. There is no way you can keep a wreck on the water these days, especially on the canals. Before you can licence your boat you need a Boat Safety Certificate and Third Party Insurance (minimum), and before you shell out anything on a boat such as a survey (needed for mortgage purposes), FIND THAT MOORING.

As Dave says water, gas, pumpouts etc can be a problem so go talk to other boaters folkies or not. If you get a boat with a pumpout (personally I prefer a Porta-Potti

Subject: RE: BS: Narrowboat mortgage/long term rent
From: Chris Green
Date: 25 Oct 04 - 07:24 AM

As far as moorings go, I've got the sniff of a couple down in the Napton/Stockton area for £2 per foot per month, which seems reasonable enough. But then again I don't really have anything to compare that price with!

Fiddler - pm coming your way!

Subject: RE: BS: Narrowboat mortgage/long term rent
From: Mr Red
Date: 25 Oct 04 - 09:39 AM

if you live in Coventry Banbury FC is very near and meets on Wed D & M help run it.

http://www.rideacockhorse.co.uk/

Subject: RE: BS: Narrowboat mortgage/long term rent
From: Chris Green
Date: 25 Oct 04 - 10:11 AM

Thanks Mr Red! I actually know Merek and Dary quite well as they booked the band for the festival a couple of weeks ago! Thanks anyway though!

Subject: RE: BS: Narrowboat mortgage/long term rent
From: My guru always said
Date: 25 Oct 04 - 03:37 PM

Feel I must stress that things can get a little damp around (& sometimes in) boats, so please take good care of your instruments!!!

I lived on a (holey) boat on the Thames back in the mid 80's for a year. I bought it for £800 & sold it for £1 for salvage after it finally sank for good (never actually got the £1 but it stopped me from being the legal owner & liable...)

Good luck with moorings!!

Subject: RE: BS: Narrowboat mortgage/long term rent
From: Mr Red
Date: 25 Oct 04 - 07:33 PM

Not that you will get much chance these days but one fleet owner at Upton upon Severn Marina reckoned that when the water frezes you can get to paint the hull a bit easier. Not my idea of fun - puts a whole new meaning on wet paint. Pause for thaw't.

Subject: RE: BS: Narrowboat mortgage/long term rent
From: GUEST,Mingulay
Date: 26 Oct 04 - 05:20 AM

All aspects of boating are fun as long as you adopt a few simple rules.

Rule One - forget all rules.

Rule Two - regardless of what is happening smile brightly and say the exact opposite of what you feel. For example, "No, no I really love donning a wetsuit in February, breaking the ice and getting in to attach a tingling plate to the hull right on the waterline".

Rule Three - learn a few nautical worksongs to help with menial tasks. A good one I find is Shallow Brown, especially when used as a toilet pump out shanty.

Rule Four - don't let cynical old bastards like me put you off. It's a good life if you ignore the barrel and vaseline(or is that just my moorings).

Subject: RE: BS: Narrowboat mortgage/long term rent
From: Dave Bryant
Date: 27 Oct 04 - 05:17 AM

Do check that the moorings are classed as residential by both the the person letting them AND British Waterways.

Incidently - what length of boat are thinking about buying ?

Subject: RE: BS: Narrowboat mortgage/long term rent
From: Gurney
Date: 28 Oct 04 - 05:48 AM

There used to be a great little pub on a Coventry Canal junction at Coventry, somewhere near Bell Green. It was a canal pub left over from the working days of the Cuts, and the 'road' to it was suitable for landrovers.
Used to take the wife there when we were courting, over 30 years ago.
We had your thought of living in a narrowboat, but fortunately a friend (Ken Wolfenden, where are you?) put me wise to some of the drawbacks, as he was doing just that, so we gave the idea away.

Subject: RE: BS: Narrowboat mortgage/long term rent
From: Chris Green
Date: 28 Oct 04 - 05:58 AM

I think you mean the Greyhound at Hawkesbury Junction. It's still open, does fantastic real ale and has won several awards for its food! :)

Subject: RE: BS: Narrowboat mortgage/long term rent
From: GUEST,Mingulay
Date: 28 Oct 04 - 06:46 AM

This is in total contrast to my nearest canalside pub. Originally called The Shovel it has now metamorphised into the Malt Shovel, where the malt bit comes from I don't know, and is a gastro-pub. Last summer you could only get a drink there at weekends if you had a meal(no pint while waiting for the lock).

Best bit of all, no direct access from the pub to the lockside. After all we don't want to mix with those water gypsies do we (I have been called that).

Subject: RE: BS: Narrowboat mortgage/long term rent
From: Dave Bryant
Date: 28 Oct 04 - 12:00 PM

And when you think that Uxbridge Folk club was at "The Shovel" for a while. It was also home to some great music sessions, before the (then) landlord moved to "The Swan" at Denham and they moved with him. I can remember that when he announced that he was moving, there were moans about the fact that there wouldn't be a boater's christmas party that year, so he held one in October before he went.

Don't they still have the little boater's bar that Glen Knight fought so hard to retain. Do they still have all the framed plans of "Ricky" narrowboats.

I do remember a story about someone taking a bag of fisheads back to a friends boat for his cat . . . . . .