A boat finance calculator can help you save money on your home mortgage and mortgage interest.
The calculator calculates how much you would pay if you bought a boat in 2016, and if you sold the boat.
It will tell you how much interest you would save and what type of loan you might get, and it can help your financial adviser to help you make a decision about how to spend your money.
What is a boat finance scheme?
The calculator works by calculating the amount of interest you might pay over a period of time.
It is useful if you want to buy the boat for a low interest rate.
It calculates how long the boat would be worth if it had not been sold, so it gives you the amount you need to spend on the boat before the interest becomes taxable.
This is called the value of the property.
If you are thinking of buying a boat, you need a minimum value for the property, because it will be used by other people in your life and you will need to pay them to take care of it.
You could pay them money to buy it, or you could pay the value in instalments and make payments every month.
How do I know if my boat is worth more than $1.5 million?
Buying a boat for more than the value will make you eligible for a boat insurance scheme.
If your boat is valued at more than half the value, you are eligible for an insurance scheme, and you may qualify for a special boat policy.
If the boat is less than half its value, the boat insurance will be cancelled and the policy will be in default.
Can I have my mortgage paid off before the boat?
You can have your mortgage paid to pay for the boat, but the lender must also pay the mortgage off before you can pay off the boat loan.
If they do not do this, you can only have your interest paid off after you buy the property and sell it.
If the mortgage is not paid off, you must repay it within seven years of buying the property or you will have to repay the mortgage interest and principal.
If it is not repaid within seven months of buying, then the lender can cancel your mortgage.
Are boat insurance schemes available?
Yes, there are boat insurance arrangements available.
If there are no boat insurance plans available, you may be able to apply to the Insurance Council of Australia to be included in the boat finance schemes.
Should I take out a loan to buy my boat?
When you buy a boat you may need to take out more than one loan.
The loan must be repaid before you buy your boat.
If this happens, the lender will usually take out another loan and give the money to you in instals.
This can be a good option if you have a family to support.
However, it can also be a bad option if your mortgage is at risk.
If a lender is not willing to take on the mortgage for you, they may cancel your loan.
What happens if I lose the boat and sell my house?
If you lose your boat and you have no other options, you could have to sell your home.
If that happens, you will be responsible for paying your mortgage interest on the home.
This may include paying down the loan and paying any taxes, and paying the full amount of the mortgage.
You would have to take the mortgage out again to sell the home, which could mean you have to buy another house.
Is there a mortgage insurance scheme available for buying a yacht?
No, there is no boat mortgage insurance programme.
If an insurance company is involved in the sale of your boat, they will not cover you.
However you can apply for an exemption.
The insurance company must provide a guarantee for you that you will not be involved in any disputes with the insurer over the sale.
How much interest will I pay on my mortgage?
When buying a house, it is important to keep the property in a good condition.
You should make sure the house is clean and in good repair.
Make sure the property has a good safety record.
The value of your house should not be less than the cost of the land, but you must be aware that you may have to pay a penalty if your home is sold without being sold to you at a fair price.
How long will the loan last?
The interest rate on a mortgage depends on the type of mortgage you apply for.
For example, if you apply to buy for a fixed rate, the rate will be fixed for the duration of the loan.
For a variable rate, your rate will fluctuate with the market.
If interest rates are fixed, then they can be used to decide what interest rate you pay on the loan over a term of up to six years.
Interest rates can be lower than these periods, but are usually lower than the interest rates you would normally pay on a fixed mortgage.
The longer you pay