So many questions!!!
James Marshall
Firstly, please let me apologise for the length of this post, and offer my
thanks in advance to those of you who have the patience to read until the
end!
After years of admiring other people's narrowboats I'm finally considering
taking the leap myself and am currently looking into the logistics of
ownership and the means to finance the purchase.
I've got copies of The Inland Boat Owners Book, The Narrowboat Builders
Book, and Narrowboats: Care & Maintenance, all of which make for interesting
and informative reading, but there are some queries that aren't covered by
these books, and I'm hoping that some of you lovely people might be able to
help with the following.
1.) Obviously there are licensing, insurance and safety standard
implications of using a boat for commercial purposes, but I was wondering if
any of you hire your boats out (not applicable to liveaboards)? I'm not
really interested in people running a fleet of hire boats, but rather those
private owners trying to make a little extra income to help with the running
costs.
2.) If any of you *do* hire out, is it only to friends and family on an
informal basis, or do you make your boat available for public rental? Are
the extra commercial expenses so much that it negates the income from
part-time rental?
3.) Does commercial use have implications with your moorings? I can imagine
that some marinas wouldn't be too happy if they run their own hire services.
4.) Will hire use affect marine mortgages? If so, can anyone recommend any
companies dealing in such?
5.) Whilst on the subject, is it common to take out a marine mortgage on a
sailaway? (I'm considering doing the fit-out myself).
Well, I think that's enough to be going on with for now! Thanks for your
help.
Regards,
James
P.S. Is there a group FAQ somewhere?
Tony Brooks
Answers in text
"James Marshall" <anti...@digitalkingdoms.com> wrote in message
news:Lkc0e.57$Fk...@newsfe5-win.ntli.net...
> Hi all,
>
>
>
> Firstly, please let me apologise for the length of this post, and offer my
> thanks in advance to those of you who have the patience to read until the
> end!
>
>
>
> After years of admiring other people's narrowboats I'm finally considering
> taking the leap myself and am currently looking into the logistics of
> ownership and the means to finance the purchase.
>
>
>
> I've got copies of The Inland Boat Owners Book, The Narrowboat Builders
> Book, and Narrowboats: Care & Maintenance, all of which make for
interesting
> and informative reading, but there are some queries that aren't covered by
> these books, and I'm hoping that some of you lovely people might be able
to
> help with the following.
>
>
>
> 1.) Obviously there are licensing, insurance and safety standard
> implications of using a boat for commercial purposes, but I was wondering
if
> any of you hire your boats out (not applicable to liveaboards)? I'm not
> really interested in people running a fleet of hire boats, but rather
those
> private owners trying to make a little extra income to help with the
running
> costs.
Makes no difference - if you accept payment it needs licensing, insuring, as
a hire boat. Also note that the boat will probably have to meet diferent
build and equipment standards.
> 2.) If any of you *do* hire out, is it only to friends and family on an
> informal basis, or do you make your boat available for public rental? Are
> the extra commercial expenses so much that it negates the income from
> part-time rental?
>
If we did - see above, probably not worth the cost.
You will be able to LEND your boat to family and probably friends who you
deem competant, however my boat manual clearly states NO PAYMENT EITHR
MONTORY OR IN KIND WILL BE ACCEPTABLE.., and I stick to it. One wiff of
accepting payment and bang goes your insurance if/when you have a claim.
> 3.) Does commercial use have implications with your moorings? I can
imagine
> that some marinas wouldn't be too happy if they run their own hire
services.
>
Some happily accept shared owner boats, but it might be at extra cost.
>
> 4.) Will hire use affect marine mortgages? If so, can anyone recommend any
> companies dealing in such?
>
I doubt you mean a marine mortgage (although things might have changed since
I was involved), I think you woudl need to register the boat as a British
Ship (measuring fees required and welding identity to main part fo boat -
name to display port of register). I suspect that you woudl get a straight
forward loan.
I might eb out of date becvause the mortgage companies might accept the
small ships register as proof of ownership (even though it is not).
>
> 5.) Whilst on the subject, is it common to take out a marine mortgage on a
> sailaway? (I'm considering doing the fit-out myself).
>
See above
>
> Well, I think that's enough to be going on with for now! Thanks for your
> help.
>
>
>
> Regards,
>
> James
>
>
>
> P.S. Is there a group FAQ somewhere?
If you are talking sailaway, judging by your questions, an hour or two
browsing
www.reading-college.ac.uk/marine might help. Use the webring link to look at
other sights.
Tony Brooks
roger....@tinyworld.co.uk
> Makes no difference - if you accept payment it needs licensing,
insuring, as
> a hire boat. Also note that the boat will probably have to meet
diferent
> build and equipment standards.
As Tony has so succinctly put it......the 'standard' licence conditions
do not allow hire for reward.
I well remember (in my early boating days when we could only borrow
friends' boats) pulling in to a small yard (up the Macc, IIRC) to get a
gas bottle and being sweetly and innocently asked by the old harridan
who ran the place
Q: Do you own the boat?
A: No, we're only borrowing it.
Q: Oh, so your not paying them to borrow it then?
A: No, they are lending it free, gratis and for nought.
Her reply: Good, that's just as well, or I would have reported you!!
(Sub-title to this little playlet........Welcome to my boatyard. ;-))
I seem to remember that this particular old lady had a reputation for
policing her local waterway better than BW did, even IIRC riding up and
down the local towpaths looking for boats with expired licences.
Roger
Neil Arlidge
This reminds me of the first time we went through Dudley Tunnel in a plastic
hire boat
BWB Man:
Q: Not you again. Is this your boat? (We had presented ourselves at the
wrong end of the tunnel for that days working, so had a speedy trip through
Netherton to get to other portal)
A: No it belongs to a friend.
Q: is that *really* the name (Tentacle II, drawn on a bit of paper and stuck
over Ladyline "Lady Jane" lettering)
A: Yes
Q: How do you intend to leg through tunnel?
A: We are going to push it through with the mop
BWB Mans final words: Hummmm... Seeing as you only have a small outboard,
just use it and go through quickly.....
--
Neil Arlidge - NB Earnest
Follow the travels of the TNC at : http://www.tuesdaynightclub.co.uk
Dave Mayall
<anti...@digitalkingdoms.com> wrote:
>Hi all,
>
>
>
>Firstly, please let me apologise for the length of this post, and offer my
>thanks in advance to those of you who have the patience to read until the
>end!
>
>
>
>After years of admiring other people's narrowboats I'm finally considering
>taking the leap myself and am currently looking into the logistics of
>ownership and the means to finance the purchase.
>
>
>
>I've got copies of The Inland Boat Owners Book, The Narrowboat Builders
>Book, and Narrowboats: Care & Maintenance, all of which make for interesting
>and informative reading, but there are some queries that aren't covered by
>these books, and I'm hoping that some of you lovely people might be able to
>help with the following.
>
>
>
>1.) Obviously there are licensing, insurance and safety standard
>implications of using a boat for commercial purposes, but I was wondering if
>any of you hire your boats out (not applicable to liveaboards)? I'm not
>really interested in people running a fleet of hire boats, but rather those
>private owners trying to make a little extra income to help with the running
>costs.
Very few do so. It simply isn't really viable.
>2.) If any of you *do* hire out, is it only to friends and family on an
>informal basis, or do you make your boat available for public rental? Are
>the extra commercial expenses so much that it negates the income from
>part-time rental?
Yes. Unless you are going to let the boat out for a significant part
of the year, the expenses are going to swallow up your income.
>3.) Does commercial use have implications with your moorings? I can imagine
>that some marinas wouldn't be too happy if they run their own hire services.
Most operators won't like such an arrangement. It isn't just about
competing with their fleets. It is also about the security of your
fellow moorers.
>4.) Will hire use affect marine mortgages? If so, can anyone recommend any
>companies dealing in such?
Yes, most marine finance houses will not want to lend on such an
arrangement. The increased depreciation will wipe out the equity in
the boat.
>5.) Whilst on the subject, is it common to take out a marine mortgage on a
>sailaway? (I'm considering doing the fit-out myself).
Yes.
On loans under £15-20k, it is more usual to take out a simple loan. On
loans more than that, a "chattel mortgage" is the usual form.
--
Dave Mayall
James Marshall
thought, and added a couple more things for me to think about!!!
Regards,
James