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RussellM...
RussellM...

Posted: Thu Jul 12, 2012 7:06pm

Post Subject: Financing your narrow boat

I'm looking at getting a narrow boats and have started to look at finance. Can I ask, having seen and paid the prices to rent a boat for either a long weekend / week or fortnight could you finance your own boat by renting out a second vessel. I realise this would not be done all year round but surely 3-4 months rental would be enough. Please feel free to rip me apart if I'm being naive.

Tony-B...
Tony-B...

Posted: Fri Jul 13, 2012 2:23pm

Post Subject: Financing your narrow boat

There are considerable extra financial and practical requirements to do such a thing so you need to cost it carefully. First you need totally different insurance (at least one boat has been lost and deemed uninsured when being unofficially hired). Then the BW license cost will be very different frmm the private owners one. Next the Boat Safety Scheme requirements are different for hire boats and I suspect many boats, even new boats, would not meet them without modification. I suspect that you would net get the C&RT license unless you could prove to their satisfaction that you have a suitable base to operate from, but check with C&RT. I hope they still operate the BW "new business" section. I have a feeling that now you also needs approval from the local authority but again check this. I also think that you will need annual gas safety checks, but again check. By and large it is generally held that operating just one boat on a "hobby" will cost as much r more than it brings in. However don't take my word for it. Contact C&RT (the "new" BW charity) and check, also get an insurance quote for hire boats. Tony Brooks

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