Yes. A vessel bought by a business to earn income is standard commercial asset finance. Charter yachts, day-boat and RIB fleets, passenger and trip boats, workboats, dive boats and sailing school craft can be funded on hire purchase or leasing, with the vessel acting as security. Where the buyer is a limited company borrowing for business use, the agreement is normally unregulated.
Lenders assess the vessel and the operation together. They will want to understand the survey and condition report, the age and build, the mooring or berth arrangements, the trading history of the business, and how the boat generates revenue across the season. Marine survey and title checks are usually part of the process, so allow more time than for a road vehicle.
If you trade as a sole trader or a partnership rather than through a company, you are an individual in law, so the agreement may fall inside the regulated consumer credit regime depending on the amount and the purpose. The broad dividing line is business-purpose borrowing of more than £25,000, but check where it currently sits before assuming. A regulated agreement is not a worse deal — it simply comes with extra protections and disclosure requirements.
Seasonality is the point most operators underestimate. Income from charter and trip work is concentrated into part of the year while the finance payment falls due every month. Some lenders will consider a payment profile shaped around your season; many will not. Build the quiet months into your own figures rather than assuming a lender will flex. If payments are not maintained the vessel can be recovered.
Because this is a specialist class, the number of funders is smaller and terms vary widely. We will tell you honestly whether our panel covers your vessel type before you spend time on an application, and we cannot guarantee approval.