Sponsoring a Narrowboat
Frequently asked sponsored boat questions:
Do I have to pay for my holidays?
No, your holidays are free to you. We will clean and prepare your boat during the hire season, off peak season you are responsible for getting the boat ready before use. On return from cruising you will be expected to clean the boat, refuel with diesel and pump out the toilet tank. We can offer a turnaround service during your off peak holidays for an additional cost.
When can I book my holidays?
We advise you to book your holidays for the hire season before 31st October the previous year to ensure you get your desired dates as many of our customer’s book very early. Off peak can be negotiated before 31st July of the same year.
How much holiday do I get and what dates are available to me?
You will get two weeks in the hire season which is March to October inclusive; the dates available to you include Easter Holidays and October half term, but exclude Whitsun Week and the School Summer Holidays. The off peak season is from November to February inclusive and you can take four weeks during this period at any time including Christmas holidays and February half term.
I would like to use the boat more often is this possible?
Yes, during the off peak season November to February we can arrange for additional time with further conditions. No additional time can be offered during the hire season, you can of course have the boat if there is no booking and you will be told of this at late notice.
How is the scheme agreement organised?
You will sign a legal agreement to be part of the sponsorship scheme which protects both you as the boat owner and us as the hire company; it makes clear the process, roles and responsibilities of both parties. You will also sign a Boat Build contract.
How do I get my financial returns and how much is this?
You will receive a statement every month in arrears of the hires stating how much income has been received, all maintenance carried out to the boat, any replacement items and the amount that you will need to invoice us to obtain your percentage of that income. You will get 38% of the net income for years one and two and 32% of the net income for years three and four (excluding DWF and any optional extras). Payment is usually made by BACS transfer.
When will I contribute my 20% towards licence and mooring fees?
This will be part of the statement for months July and August and taken off your net income. We will advise you of the amount to invoice once this has been deducted.
How long can I keep the boat in the scheme for?
Four years and then you are free to either keep the vessel for your own use or if you wish to sell it.
How much does a new boat cost?
Prices include VAT at 20%.
How can I keep track of my new boat build?
You can visit the boat yard preferably by prior arrangement as well as keep track of the build on our Facebook site: https://www.facebook.com/AQUANARROWBOATS
Do I pay for the boat on completion of the build?
We use a Boat building contract with staged payments of 10%, 30%, 35%, 20% and 5% on completion.
How can I ensure that the boat is legally mine once purchased?
You will have a copy of your boat building contract, a legal document, which is your proof of purchase as well as copies of our invoices to you for the boat build.
Can I change the internal design of my new boat?
You are able to contribute your ideas towards the interior decoration such as carpets, curtains, upholstery etc. The internal layout meets the 5 star Visit Britain standard that we strive to maintain, so needs to remain as it is. We can add additional features such as cratch cover or satellite dish at an additional cost, either at the boat building stage or at the end of the four year period. We understand that some customers will use the boat after the sponsorship scheme has ended, therefore, we are happy to work with the owner to allow for additional extras when they take over use of the vessel.
Can I purchase an older boat at a reduced price?
Yes, we occasionally have one or two year old boats available, that can remain in the sponsorship scheme.
I have decided the scheme isn’t for me as I would like a more bespoke boat – do you offer this?
Yes we offer bespoke boats, find more about the here.
What do I do next?
Please call us to arrange a visit and we will show you around the workshop, view the boats and the paperwork involved. If you would like to go ahead a £1500 deposit is required to secure your boat building slot. We only build one or max two boats into the sponsorship every year so availability is limited. There is usually a 1-2 year lead time due to the demand of our services so an early enquiry is advised.