Improved yacht finance package from HSBC

HSBC Bank Malta plc is the undisputed expert and market leader of the local yacht finance sector. Its Yacht Finance Loan, launched last year, was received with open arms by the Malta boating community.

Yacht Lease Finance, a product still unique in the local market, followed closely thereafter to meet local demand from yacht brokers and enthusiasts.

Yacht Finance is specifically designed to finance new and second hand vessels. Anyone interested in acquiring the boat or yacht of their dreams may borrow from a minimum of Lm25,000, generally against a mortgage over the boat as the only security required.

No maximum amount is stipulated, and customers may borrow up to 80% of the value of the vessel, repaying within a maximum of ten years. Furthermore, with Yacht Lease Finance, yachting enthusiasts may also benefit from special VAT treatment resulting in the payment of reduced rates of VAT on new boats.

HSBC's Yacht Finance and Lease Package is a first of its kind in Malta. To sustain its leadership in this field, HSBC has improved its offer even further. HSBC is participating in the Malta Boat Fair which closes today, and is offering very special rates that will continue to apply for two months following this event for anyone buying a boat for the coming summer season.

"Malta's summer months are long and mild, and so many sea lovers think of getting a boat to fully enjoy the season and the Mediterranean at this time of year. HSBC will help customers finance their boats and yachts, to enjoy summer to the full," HSBC Malta's head of Personal Financial Services, Godfrey Swain said.

Further details on HSBC's yacht finance products are available at the HSBC stand at the Boat Fair. Alternatively, customers may call Customer Service on 2380-2380, visit www.hsbc.com.mt or any HSBC branch across Malta and Gozo.