Raising the finance to buy a floating home can call for ingenuity and persistence. It is rarely easy to raise finance, that is backed solely by the boat alone.
Most people find it easier to raise finance from their current bank or building society, for example, or they look to see what's on offer in the High Street or in the newspapers. Other people use specialist providers of finance for boats - these advertise regularly in the boating magazines.
Another route to finance is to seek support from relatives or friends or to raise money on a house. As far as possible, take care to understand what's on offer and see that it's a good deal.
Insuring a boat is essential. The basic insurance required for boats on most waterways (including Canal & River Trust and Environment Agency managed canals and rivers) typically doesn't cover contents, or at least probably won't provide enough cover. A recent survey of the boat is usually a prerequisite.
Take a look at other running costs of owning a boat.
IWA has teamed up with both Navigators & General and River Canal Rescue to enable an insurance facility that is unique to the market, with the added benefit that every policy taken out and subsequently renewed helps IWA, and thus furthers our charitable work for the waterways.