Sarnia Yachts is able to arrange, through the Ansbacher Banking Group’s London bank, Ansbacher & Co Limited, specialist loans for the acquisition and refurbishment of luxury yachts. Each loan will be individually structured to meet the client’s requirements and cash flow and will be subject to the following indicative terms and conditions:
- Sarnia Yachts will be responsible for all aspects of company and yacht administration including arranging insurance of the yacht
- Loans will normally be for amounts of not less than US$2 million and not more than US$15 million and will not exceed 70% of the valuation of the yacht
- An independent professional valuation will be required
- Loan terms can be up to seven years, with repayment of the principal being in equal instalments or otherwise
- Interest only loans will be considered
- Interest will be at a margin above 3 months EURIBOR / LIBOR / US$ LIBOR as appropriate
- Security will include a first marine mortgage over the subject vessel, personal guarantees and assignment of related insurances.
Ansbacher & Co Limited is authorised and regulated by the United Kingdom’s Financial Services Authority. Ansbacher & Co Limited is duly authorised under the United Kingdom’s Financial Services and Markets Act 2000 to carry on deposit-taking business in the United Kingdom and had, at 31 December 2007, paid-up share capital and reserves in excess of £53 million.
Most deposits in European Economic Area currency made with Ansbacher & Co Limited are protected by the United Kingdom’s Financial Services Compensation Scheme under the Financial Services and Markets Act 2000. Deposits with Ansbacher & Co Limited (plus accrued interest) are protected up to an amount of 100% of the first £35,000 (or currency equivalent). Most depositors, including individuals and small firms, are covered. Additional information about this Scheme may be obtained on request from Ansbacher & Co Limited.
Security will be required for any credit granted and this will include a first marine mortgage and an assignment of relevant insurances and such other security as Ansbacher & Co Limited may require. The yacht and any other relevant property is therefore at risk if the repayments are not kept up to date. For foreign currency loans, the sterling equivalent of your liability under a foreign currency mortgage may be increased by exchange rate movements.
Credit is available only to persons over the age of majority and is subject to status. All credit granted will be on such terms as will be set out in the facility letter that will be issued following Ansbacher & Co Limited’s examination of the client’s requirements and cash flow. A deposit acceptable to Ansbacher & Co Limited may be required. A quotation in writing about the terms on which Ansbacher & Co Limited is prepared to provide our client with yacht finance is obtainable on request.
Please note that the Yacht Finance Preliminary Questionnaire, together with copies of the underlying documentation, will have to be provided to Ansbacher & Co Limited in order to enable it to satisfy its anti-money laundering obligations.
Please read these important notices which are for your and our protection. Once you have read and agreed with them you may continue.
The contents of this website (“the website”) have been issued and approved by Ansbacher & Co Limited (a United Kingdom incorporated company) solely for the purposes of Section 21 of the United Kingdom’s Financial Services and Markets Act 2000. Ansbacher & Co Limited is authorised and regulated by the Financial Services Authority in the United Kingdom.
The information contained in the website is for information purposes only. Access to the website is governed by the terms, conditions and important notices set out on this page.
The information contained in the website includes information about services that may be subject to restrictions about persons who may receive such information. The information is not directed at anyone in a particular jurisdiction who by virtue of being in that jurisdiction, would be prohibited from receiving or having such information made available to them. Accordingly, the information contained in the website must not be circulated or copied to anyone where to do so may constitute an infringement of any local laws or regulations.
Neither the website, nor any of the information contained in the website constitutes or will form the basis of a representation, contract or a term of any contract. Any application for any service referred to in the website may only be made on the basis of the terms relating to the specific service. It is strongly recommended that, before proceeding with any course of action, you take relevant professional advice, particularly professional advice on individual tax and/or estate planning or exchange control in your country of residence and/or domicile.
Sarnia Yachts Limited (“Sarnia Yachts”) is required to verify the identity of, and obtain certain information and documentation from, prospective clients in accordance with measures aimed at the prevention of money laundering. By way of example, you may be required to produce a copy of a passport or identification card duly certified by a public authority, such as a notary public, together with evidence of your residential address. Sarnia Yachts will not commence any services until such time as it has received and is satisfied with all the information and documentation required to verify your identity. Sarnia Yachts will hold this information and documentation in confidence. Disclosure of this information and documentation will only be made with your express authority or pursuant to a court order or similar process, where Sarnia Yachts is otherwise required/permitted by law to make such disclosure.
The information contained in the website, Sarnia Yachts’ logos and trademarks (whether licensed or otherwise) and Ansbacher & Co Limited’s logos and trademarks (whether licensed or otherwise) belong to Sarnia Yachts and Ansbacher & Co Limited respectively and may not be copied, reproduced, redistributed or transmitted without the express prior consent in writing of either Sarnia Yachts or Ansbacher & Co Limited.
Sarnia Yachts believes that the information contained in the website is accurate as at the date of publication. The website may be updated or altered by Sarnia Yachts at any time without giving warning.
The website may contain hyper links or automatic links from the website to other third party websites. Sarnia Yachts accepts no responsibility for the content or the services or products or any matter offered by or through such websites.
Messages that you send to Sarnia Yachts by e-mail may not be secure. It is recommended that you do not send any confidential information to Sarnia Yachts by e-mail.
The governing law that applies to the use of the website is English law. If any dispute arises concerning the information contained in the website or the use of the website, the dispute will be heard by the English courts and you agree to allow such a dispute to be heard by the English courts.
Sarnia Yachts Limited
Registered office: La Plaiderie House, La Plaiderie, St. Peter Port, Guernsey, Channel Islands, GY1 3DQ
Registered in Guernsey number: 9146
Sarnia Yachts Limited is licensed by the Guernsey Financial Services Commission to conduct Fiduciary Business.
January 2008