Price

The initial offer price is £17,500 per Syndicate Share. 

Each Syndicate Ownership has been valued at £31,500 per 16/64ths share based simply on the savings achieved over outright ownership so the current offer price represents a (very) theoretical saving of £14,000.

Finance

We are willing to consider financing your purchase, subject to status, as follows (example shown for one 25% syndicate share at offer price of £17,500):

Holding Deposit: £1,750.00

Balance of Down-Payment: £9,250.00

Total Down-Payment: £11,000

followed by a first month's payment of £164.17 then 35 monthly payments, each of £192.00.

Amount of Loan: £6,500

Total of Monthly Repayments: £6,884.17

Total Interest (charge for credit): £384.17

Interest Rate: 3.75% pa (on monthly reducing balance)

APR: 3.75%

Total cost of purchase: £17,884.17

(down-payment + 36 monthly payments)

Please note:-

• Repayments are by monthly standing order
• Loan secured by 50% of your syndicate share (ie 8/64ths) and recorded as such on the Ship's Register.  This does not affect your rights of use (12 weeks per year) or your responsibility to meet your financial obligations in respect of maintenance, repairs, upkeep and other annual costs.
• The retained 50% of your syndicate share will be transferred to you and recorded on the Ship's Register upon the loan being repaid in full.
• In the event of a loan default, your rights of use will be suspended and your syndicate share will be placed on the open market. You will still be liable for your share of syndicate costs whilst your rights of use are suspended until your share has been sold.