GY&LF, as a market leader in the pleasure boat market, has realised the sailing dreams of its clients.
GY&LF, A SUBSIDIARY OF THE SOCIÉTÉ GÉNÉRALE GROUP OFFERS CUSTOMIZED AND COMPETITIVE FINANCING SOLUTIONS THROUGH CGI FINANCE.
We provide efficient, personalised and confidential assistance and support.
Marine mortgages and loans:
We offer the services of our team of marine specialists to provide a flexible and individual response to your enquiry. These financial solutions are adapted to your requirements. We will work to guide you through the acquisition process. We will assist you every step of the way.
Loan terms of between 4 – 15 years for loan amounts not exceeding 70% of the purchase price of the new boat.
Your finance may be in Pounds Sterling or Euros. The choice of currency will be fixed from the outset. For further information, to make an application or to discuss your project further without commitment, please contact:
Compagnie Generale de Location d’Equipments UK (UK branch of CGL) is authorised and regulated by the Financial Conduct Authority (FRN: 959023).
General Yachting and Leisure Finance Ltd (GY&LF Ltd)
Tel: 01590 610689
First & Second Floors, 55 High Street, Lymington, Hampshire, SO41 9AH
Valid as from January 2019
CGI Finance shall be entitled to make the following charges and to adjust the said charges from time to time:
|Late Payment/default charge||£/€ 100|
|Request for copy documents||£/€ 30|
|Request for information re: loan||£/€ 20|
|Dunning letters / Default letters||£/€ 30|
The above charges, except the Commitment fee, are commensurate with and reflect the actual administrative cost of performing the relevant action.
Fees and expenses
Set out below is a list of the amount of certain of the fees and expenses that may be incurred in connection with this Agreement. This list is indicative only, and the actual fees and expenses charged to the Borrower by the Creditor will depend on a number of factors, including:
|Expense||Guide amount (excluding VAT)|
|Agent’s fee for registering a Boat, mortgage and Notice of Mortgage Intent (if applicable)||Fixed fee|
|MCA fee for Notice of Mortgage Intent||£37|
|MCA fee for Registration of Mortgage||£101|
|MCA fee for Full Registration||£153|
|Transcript of Registry||£29|
|Tonnage survey fee (under 15m)||95|
|Tonnage Plate (showing official number and net tonnage)||£15|
|Companies House fee (companies only)||£15 per charge|
|Five year MCA registration fee||£72|
|Agents fees for re-registration after 5 years||£160|
|Agents fees for discharge of the mortgage||£160|
Such fees and expenses are subject to change which is outside our control.
The Lender’s agent will register the Boat and the Mortgage, and arrange the Tonnage Certificate required for registration of the Boat for a fixed fee to be advised by the Lender, on the basis that the Boat is under 15 metres and is in the United Kingdom. This fee includes the MCA fees which could be subject to change by the MCA between the date of execution of the Agreement and the date of completion of the registration of the Boat. IF THE BOAT IS NOT IN THE UNITED KINGDOM AND/OR IS OVER 15 METRES THERE WILL BE AN ADDITIONAL CHARGE FOR THE TONNAGE CERTIFICATE, WHICH IS AVAILABLE ON REQUEST FROM THE LENDER.
Further, if you are a company or limited liability partnership, the Lender’s agent will register the Mortgage and Deed of Assignment of Earnings and Insurances (if applicable) at Companies House. The Lender’s agent will charge an additional fee of £150 plus VAT and the Companies House fee of £15 for the Mortgage and £15 for the Deed of Assignment of Earnings and Insurances.
The MCA fees set out above are the fees for standard service and registration can take between approximately 2-6 weeks. If you require the Boat to be registered as a priority, the MCA have a premium service, for which there are additional fees. The MCA premium service fees are available on request from the Lender.
Enforcement charges will depend upon the above mentioned factors but in all cases shall reflect the actual costs of our agents.