September 2009 – Lombard Marine Finance – has reported a increase in demand for funding at this year's Southampton Boat Show. Results have shown over 100% increase in the value of funding applications received so far compared to last year.
Ian Braham, Head of Lombard Marine Finance said:
"This year's show is
going really well and comparing the first five days to the same period at last year’s show, we
can see a definite improvement in business volumes. We've noticed a general improvement in buyer
confidence with more purchasers ready to commit, especially compared to the London Boat Show in
January.
"During the last two Boat Shows here, we've reported an increased interest in sail boats which has meant a consistent 50/50 split with motor boats but this year there has been a swing back towards power boats with a 60/40 split. Generally speaking we have noticed sales at the lower end of the market slowing and larger transactions producing higher volumes of business."
Lombard has also reported 2009 as a good year for business so far with a 6% increase in new business for the first half of this year. Ian adds: "It is clear that the boat sales market has been through a tough time over the last year, reflecting general economic conditions. While other lenders have been scaling back or withdrawing from the marine market, Lombard has continued to lend to boat purchasers and retailers. Given market conditions, it is extremely pleasing to report that at the half year point, our core new business volume was 6% ahead of last year's recording breaking results. This really is remarkable considering the challenging times we're all living in and clearly demonstrates that more people are choosing Lombard."
For more information on marine finance please visit the Lombard team at stand E046 or call Lombard on 02380 242171 or visit www.lombard.co.uk/marine where an instant quote can be researched.
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For further information please contact
Claire Meeghan
Media Manager
Tel: +44 (0)20 7672 1916
Email: claire.meeghan@rbs.co.uk
Notes to Editors
Lombard is part of The RBS Group, one of the world's leading financial services companies providing a range of retail and corporate banking, financial markets, consumer finance, insurance, and wealth management services. RBS Group operates in over 50 countries across Europe, the Americas, Asia and the Middle East serving more than 40 million customers and employing more than 170,000 people. The Group's brands include RBS and NatWest, Ulster Bank, Coutts, Citizens and many other "household name" financial services companies.
